Tuesday, March 1, 2011
Elbit Systems unit wins Apache helmet order
Elbit Systems of America will supply the display systems to the US Army.
Defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) US subsidiary Elbit Systems of America, LLC, has won a $12.75 million delivery order for a helmet display system used by Apache helicopter pilots.
The order for integrated helmet and display sight system (IHADSS) spares came from the US Army tank-automotive and armaments command (TACOM), in Rock Island, Illinois. Work on the contract will be performed in Fort Worth, Texas.
The delivery order is part of an indefinite delivery/indefinite quantity contract awarded to Elbit Systems of America, under which a total of more than $50 million in delivery orders have been issued to date.
The IHADSS system supports the Apache AH-64 attack helicopter mission by providing an advanced helmet mounted display and sighting system that provides heads up display and accurate line of sight to the pilot and co-pilot.
Elbit Systems of America President and CEO Raanan Horowitz said, "We appreciate the confidence placed by the US Army in our quality and on-time delivery track record on the Apache IHADSS program."
Elbit Systems closed at $51.49 yesterday, giving a market cap of $2.2 billion.