Elbit gets $10 mln deal for Israeli F-16s
Mon Jan 23, 2006 04:46 AM ET
TEL AVIV, Jan 23 (Reuters) - Elbit Systems Ltd. (ESLT.TA: Quote, Profile, Research) said on Monday it will supply Israel's Ministry of Defense with an avionics simulation system for the Israel Air Force F-16I Sufa aircrew flight and system trainer.
Elbit's (ESLT.O: Quote, Profile, Research) share in the development of the trainer amounts to $10 million. Israel's BVR Systems (BVRSF.O: Quote, Profile, Research) , acting as a sub-contractor for Elbit, will supply the visual display and cockpit simulators.
Elbit shares rose 0.6 percent on the news, outpacing gains in the broader market. Elbit President and Chief Executive Joseph Ackerman said the contract to supply a simulator for Israel's most advanced combat aircraft strengthens Elbit's position as a leading company in the simulator field.
The avionics, displays and cockpit will then be provided to Lockheed Martin Corp (LMT.N: Quote, Profile, Research) for final overall trainer integration and testing prior to installation in Israel.
Lockheed Martin has received a separate Ministry of Defense contract for its work on the F-16I flight and systems trainer.
Elbit Systems has previously been selected to supply the core avionic systems for the Israeli Air Force's F-16I aircraft.
yahoo.reuters.com.
Dubi |
