Thursday, April 7, 2011
Israeli company wins African contract for artillery systems
Israeli defense electronics company Elbit Systems announced Wednesday that it has won a contract to supply artillery systems to an African country, according to a press release.
Elbit will supply the ATMOS self-propelled artillery system manufactured by Soltam Systems, a subsidiary it has recently acquired. The deal includes accompanying observation and target acquisition systems, fire-control systems and command stations.
The contract is valued at around 24 million U.S. dollars and supply of the systems is expected to last two years. Elbit did not disclose the identity of the client in the press release.
The company said it will manage the training and maintenance during the project's duration.
About Elbit Systems
We develop, manufacture and integrate advanced, high-performance defense electronic and electro-optic systems for customers throughout the world. The Company focuses on designing, developing, manufacturing and integrating command, control, communication, computer, intelligence, surveillance and reconnaissance (C4ISR) network centric systems, including unmanned vehicles, for defense and homeland security applications. We also perform upgrade programs for airborne, land and naval defense platforms. Moreover, we develop and manufacture systems and aero structures for the commercial aviation market. We also provide a range of support services.
Our major activities include:
- military aircraft and helicopter systems;
- helmet mounted systems;
- commercial aviation systems and aero structures;
- unmanned aircraft systems;
- naval systems;
- land vehicle systems;
- command, control, communications, computer and intelligence (C4I) systems;
- electro-optic and countermeasures systems;
- homeland security systems;
- electronic warfare (EW) and signal intelligence (SIGINT) systems; and
- various commercial activities.
Many of these major activities have a number of common and related elements. Therefore, we often jointly conduct marketing, research and development, manufacturing, performance of programs, sales and after sales support among these areas of activities.
Principal Market Environment
We operate primarily in the defense and homeland security arena. The nature of military actions in recent years, including low intensity conflicts and ongoing terrorist activities, has caused a shift in the defense priorities for many of our major customers. As a result we believe there is a greater demand in the areas of C4I, as well as intelligence, surveillance and reconnaissance (ISR), including network centric information systems, intelligence gathering systems, border and perimeter security systems, unmanned aircraft systems(UAS), unmanned ground vehicles (UGVs), unmanned surface vessels (USVs), remote controlled systems, space and satellite based defense capabilities and homeland security applications. There is also a growing demand for cost effective logistic support and training services. We believe our systems, products and capabilities position us to meet evolving customer requirements in several of these areas.
We tailor and adapt our technologies, integration skills, market knowledge and battle-proven systems to each customer’s individual requirements in both existing and new platforms. By upgrading existing platforms with advanced electronic and electro-optic technologies, we provide customers with cost-effective solutions, and our customers are able to improve their technological and operational capabilities within limited defense budgets. We have a growing expertise in providing “systems of systems”, which enables us to increasingly provide overall solutions to our customers’ comprehensive defense and security needs.
The worldwide defense market has been characterized in recent years by significant consolidation and merger and acquisition activities. Part of our growth strategy includes our continued activity in mergers and acquisitions both in Israel and internationally. We operate as a multi-domestic organization in order to meet the needs of our customers around the world. The Company’s structure enables us to benefit from the synergy of our overall capabilities while at the same time focus on local requirements.
Elbit Systems shares are traded on the Nasdaq National Market (NASDAQ) under the symbol “ESLT” and on the Tel-Aviv Stock Exchange (TASE).