*AV*--one would have thought this would have more of an impact on my ESLTF stock price.
Tuesday October 14 8:39 AM EDT
Israel says Poland signs deal for helicopter gear
JERUSALEM, Oct 14 (Reuters) - Israel said on Tuesday it had signed an arms deal with Poland that, according to a
New York Times report, Washington opposed.
''The Defence Ministry confirms a contract with Poland was signed,'' said a ministry spokesman when asked about a
helicopter deal with Israel's Elbit Systems Ltd (ESLTF)and state-owned Rafael.
The spokesman refused to provide details of the contract. Spokesmen for Elbit and Rafael said they were checking the
report.
Poland had been negotiating a deal with Israel worth an estimated $1 billion for the purchase of missiles and avionics for
its new Huzar military helicopters. But Polish officials put the deal on hold last month after reports Washington was
pressuring Warsaw to buy equivalent gear from Boeing Co(BA - news).
The New York Times reported on September 20 that Washington's ambassador to Poland dealt Warsaw a sharp rebuke
for rejecting Boeing just two months after Poland was invited to join NATO.
The deal with Israel was said to involve the NT-D anti-tank missile for mounting on the helicopters, as well as avionics.
Boeing had offered its own Hellfire II missiles and was seeking the avionics side of the package even if Poland preferred
Israeli hardware.
OR AT LEAST THIS
Tuesday October 14 10:59 AM EDT
Company Press Release
Polish Helicopter Program
HAIFA, Israel--(BUSINESS WIRE)--October 14, 1997--Elbit Systems Ltd. (NASDAQ-NM Symbol: ESTLF)
announced today that further to the ongoing contacts with the Government of Poland regarding a potential program for the
armament and upgrade of helicopters. Polish sources reported that on October 13, 1997 an agreement was signed
between the Government of Poland and the Government of Israel establishing the framework for the performance of the
Polish helicopter project with the participation of Israeli industries including Elbit Systems Ltd. The Polish sources also
indicated that the process is continuing for preparation of the commercial contracts between the Polish and the Israeli
industries participating in the project. If such contracts enter into force it is anticipated that Elbit Systems Ltd.'s activities
under the project will be material to the Company. However, entry into force of such commercial contracts between the
industries is conditioned upon receipt of various approvals from governmental entries in Poland.
Elbit Systems Ltd. is engaged in a wide range of defense- related airborne, ground and command, control and
communications (''C3'') programs throughout the world. The Company focuses on upgrading of existing military platforms
and developing new technologies for defense applications.
SO WHAT'S THE STORY
I would think a bllion dollars or more would move this puppy. Apparently not or maybe the news is still travelling by camel.
Andrew |
