Israel and Montenegro Sign GTG Defense Exports Agreement Worth Approximately 20M Euros

Elbit Systems Ltd. (NASDAQ:ESLT and TASE: ESLT) Elbit Systems announced today that it was awarded a contract valued at approximately 20 million Euros, as part of a defense export agreement signed between the Israel and Montenegro Ministries of Defense to acquire Elbit Systems-made weapons including mortar munition systems and training equipment.

Director General of the Israel Ministry of Defense, Maj. Gen. (Res.) Eyal Zamir, approved the government-to-government (GTG) agreement between the ministries, the third between the countries in recent years.

Director of SIBAT in the Israel Ministry of Defense, Brig. Gen. (Res.) Yair Kulas and Director of Logistics in the Montenegro Ministry of Defence, Col. Vladan Martic, signed the agreement in a ceremony held at the IMoD HQ in Tel Aviv. As part of the contract, Elbit Systems will supply 120mm mortar munition systems that can be mounted on 4×4 armored vehicles as well as the training of soldiers and officers at the Elbit-IMI Academy in Israel. The agreement is valued at approximately 20 million Euros.

Director of SIBAT, Brig. Gen. (Res.) Yair Kulas: “This marks the third agreement with our partners in Montenegro since bolstering our defense relations in 2019 and is a great expression of confidence in the Israeli defense industry. Montenegro is a partner and ally of Israel and faces complex security challenges like other European countries. Israeli defense industries are able to provide them with technological solutions of the highest standard.”

Yehuda (Udi) Vered, General Manager of Elbit Systems Land:“Elbit Systems is proud to take part in partnership between Israel and Montenegro. Elbit’s solutions provide the optimal response to the growing needs in Europe. We are committed to providing both products and professional service at the highest level to our partners and customers.”