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published in Blogs
Jun 30, 2022
Elbit (ESLT, $226.85) secures $548 million contract with Asia Pacific

Elbit (ESLT, $226.85) secures $548 million contract with Asia Pacific

Elbit Systems Ltd has bagged a contract valued at $548 million to supply military-wide multi-domain combat networked warfare capabilities to the Armed Forces of a Asia-Pacific country.

"This significant contract award to execute a military-wide networked warfare program further validates the leading position we hold in the growing areas of C4ISR and multi-domain networked warfare," said CEO Bezhalel (Butzi) Machlis.

In the meantime,  Elbit also revealed the completion of the sale of all ordinary shares held by its Israeli subsidiary, IMI Systems Ltd., in IMI's 84.98%-owned subsidiary, Ashot Ashkelon Industries Ltd., and all capital notes of Ashot held by IMI and Elbit, to FIMI Opportunity Funds, for around $84 million in cash.

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