May 24, 2011 ASDNews Source : Elbit Systems Ltd.
Contract Valued at $18.6 Million
Haifa, Israel - Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that it was awarded a contract valued at approximately $18.6 million to upgrade the Romanian Air Forces' C-130 transport aircraft. According to the agreement, the C-130 aircraft will be installed with various types of advanced electronic systems, including those produced by Elbit Systems' wholly owned subsidiary - Elisra Electronic Systems Ltd.
The project, to be performed over four years, will be executed in cooperation with local companies in Romania, lead by the Romanian Aeronautical Industry.
Yoram Shmuely, Co-General Manager of Elbit Systems' Aerospace Division, commented: "We are very proud of this award, which marks an additional milestone in the projects Elbit Systems has performed for the Romanian Air Force in collaboration with Romanian local industry. This new contract attests to the trust and satisfaction we have gained, based on the quality of the projects we have executed for the Romanian Air Force in recent years". Shmuely added: "The global demand for transport aircraft upgrades and the experience we have accumulated in performing various similar projects, including for the Korean C-130 and the Brazilian C-95, position us as market leaders, and we hope other similar projects will follow."