Elbit Systems Ltd. (NASDAQ:ESLT and TASE: ESLT) (“Elbit Systems”) announced today that it was awarded an approximately $220 million contract to supply precision guidance kits for airborne munitions to a country in Asia-Pacific. The contract will be performed over a period of 15 months.
Under the contract, Elbit Systems will supply the Lizard precision guidance kit for general purpose airborne warheads. The Lizard is a laser-based precision guidance kit enabling general purpose airborne warheads, of both Western and Eastern versions, to engage targets, including fast moving ones, with high accuracy.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “There is an increase in the demand for our precision fire capabilities as high accuracy has become an operational imperative across all domain of operations. Armed forces around the globe are requiring solutions that enable efficient conversion of ammunition stockpiles into a capability that is relevant in modern warfare, especially in light of lessons learned from recent military conflicts.”
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