New Achievement For Elbit Systems In Brazil: Elbit Systems Brazilian Subsidiary, Ares, Awarded Approximately $25 Million Contract To Supply 12.7/7.62mm Remote Controlled Weapon Stations
HAIFA, Israel, October 24, 2012 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ and TASE:ESLT) ("Elbit Systems") announced today that Ares Aeroespacial e Defensa Ltda. ("Ares"), its Brazilian subsidiary, was awarded an initial production order valued at approximately $25 million to supply 12.7/7.62mm Remote Controlled Weapon Stations (RCWS) to the Brazilian Army. The RCWS, named REMAX, a unique development of Ares, will be supplied within two years.
Specifically designed to meet Brazilian Army requirements as part of the VBTP program, Ares' REMAX have already been successfully tested. REMAX, is a stabilized weapon station for 12.7/7.62mm machine guns and will be used in armored vehicles for troop transport and in armored platforms that include logistics vehicles utilized in combat, border patrol and peace keeping missions.
This award marks the second contract award in approximately a month of Elbit Systems in Brazil, following the September 13, 2012 Elbit Systems announcement regarding a $15 million initial production order awarded to AEL Sistemas S.A, another Elbit Systems subsidiary in Brazil, to supply Unmanned Turrets to the Brazilian Army.About Elbit Systems Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems ("UAS"), advanced electro-optics, electro-optic space systems, EW suites, airborne warning systems, ELINT systems, data links and military communications systems and radios. The Company also focuses on the upgrading of existing military platforms, developing new technologies for defense, homeland security and commercial aviation applications and providing a range of support services.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV