Israeli Defense Firm Elbit Snags $112 Million Contract in Asia

The electronics company did not name the country it has signed the deal with, but said the contract will be carried out over the next six years

An Elbit Hermes 900 unmanned aircraft, March 8, 2017.
IDF Spokesperson

Israeli defense electronics firm Elbit Systems (ESLT.TA) said on Monday it won a $112 million contract from an Asia-Pacific country to supply advanced airborne intelligence systems.

The contract will be performed over six years. Elbit (ESLT.O) did not name the country.

Last week, Elbit acquired the Israeli government's shares of Israel Military Industries. Elbit paid $495 million to the state in one of the biggest deals in Israel’s weapons sector to date.

Elbit operates primarily in the homeland security and defense arena, and has been at the forefront of innovative approaches towards dealing with conflicts and ongoing terrorist activities. Its products include thermal imaging systems, guided missiles and unmanned vehicles.

The company has played an active role in supplying the Israeli military with the technology needed for most Israeli aircrafts like the IAI Lavi fighter aircraft and for the Israeli Merkava tank.

Through the years, Elbit has expanded worldwide and has several companies in the United States, Brazil, and the United Kingdom. More recently, Elbit’s involvement in providing surveillance components for the West Bank separation fence has sparked divestment by some groups and organizations in Europe.