Elbit Systems Ltd. (NASDAQ and TASE:ESLT) ("Elbit Systems") announced today that Ares Aeroespacial e Defensa Ltda. ("Ares"), its Brazilian subsidiary, was awarded an initial production order valued at approximately $25 million to supply 12.7/7.62mm Remote Controlled Weapon Stations (RCWS) to the Brazilian Army. The RCWS, named REMAX, a unique development of Ares, will be supplied within two years.
Specifically designed to meet Brazilian Army requirements as part of the VBTP program, Ares' REMAX have already been successfully tested. REMAX, is a stabilized weapon station for 12.7/7.62mm machine guns and will be used in armored vehicles for troop transport and in armored platforms that include logistics vehicles utilized in combat, border patrol and peace keeping missions.
This award marks the second contract award in approximately a month of Elbit Systems in Brazil, following the September 13, 2012 Elbit Systems announcement regarding a $15 million initial production order awarded to AEL Sistemas S.A, another Elbit Systems subsidiary in Brazil, to supply Unmanned Turrets to the Brazilian Army.
Source: Elbit Systems Ltd.
Date: Oct 24, 2012