Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that it was awarded an approximately $110 million contract from an Asia-Pacific country for the upgrade and maintenance of dozens of Mi-17 helicopters. The project will be performed over a five-year period.
Elbit Systems has extensive operational experience in rotary-wing modernization activities, including conversion of utility and assault helicopters into multi-role platforms, upgrading existing utility and attack platforms, supplying cutting-edge systems for latest-generation aircraft and providing full maintenance and support packages. Elbit Systems has the flexibility to serve as prime contractor, systems integrator, component supplier or service contractor in order to meet the needs of the specific customer. The solutions are tailored to meet customer demands, whether they are for a single system, large-scale systems, structural upgrades or maintenance and support.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, noted: "We are very pleased to have won this major helicopter upgrade project and for the opportunity to implement our unique and innovative avionic solutions. Elbit Systems is a world leader in the Eastern helicopter upgrade market, having completed and continuing to perform numerous programs which improve operational capabilities and facilitate safer flight, night and day. Since the "aging helicopter" market is growing rapidly and includes numerous Eastern platforms, we hope other customers will follow the selection of our modernization solutions".
Source: Elbit Systems Ltd.
Date: Feb 8, 2017