Elbit Systems Ltd. (NASDAQ:ESLT and TASE: ESLT) (“Elbit Systems”) announced that it was awarded two contracts, in an aggregate amount valued at $240 million, to upgrade Main Battle Tanks (MBT) for an international customer. A $60 million contract will be delivered over a period of two years and a $180 million contract will be delivered over a period of four years.
Under the contracts, Elbit Systems will perform an upgrade of the MBTs and provide advanced electronics suites.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, commented: “There is a renewed interest from militaries looking to improve the operational capabilities of their armoured platforms. I believe that Elbit Systems is uniquely positioned to address the growing demand in this market due to our ability to provide comprehensive solutions.”