Boeing [NYSE: BA] and Elbit Systems Ltd. [NASDAQ and TASE: ESLT] have signed a Memorandum of Understanding that supports the growth of both companies through the joint pursuit of opportunities for self-defense solutions for Boeing military aircraft in international markets.
The companies will offer Elbit Systems’ Directed Infrared Counter Measure (DIRCM) systems for a range of Boeing military fixed-wing and vertical-lift aircraft. The Elbit DIRCM family of systems, produced by Elbit Systems’ wholly owned subsidiary Elbit Systems Electro-optics ELOP Ltd., are lightweight, compact systems designed to protect aircraft from common battlefield threats.
Boeing’s Network & Space Systems and Boeing Military Aircraft organizations are working together to integrate the systems onto new and existing aircraft, as well as to provide signature analysis and end-to-end services and support.
“Boeing is partnering with pioneering firms worldwide to bring advanced technology to our customers,” said Network & Space Systems President Roger Krone. “Our relationship with Elbit is an example of how we are enhancing our portfolio with innovative capabilities for a variety of solutions.”
“We are very proud to collaborate with Boeing in this unique solution, providing optimum protection for airborne platforms," said Joseph Ackerman, Elbit Systems President and CEO. “Based on our long history of working with Boeing, we anticipate that this joint effort will provide the optimal solution for protecting our customers and creating synergistic value for both companies in this strategic and fast-growing market.”
Source: Elbit Systems Ltd.
Date: Feb 12, 2013