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- Israel's Elbit and IAI report multi-million deals with Swedish, German militaries
Israel's Elbit and IAI report multi-million deals with Swedish, German militaries
'Sweden is an important market for Elbit Systems and we hope to continue in growing our activities in Sweden'
Israeli defense electronics specialist Elbit Systems announced Thursday that its German subsidiary was awarded a follow-on contract worth about $23 million by the Swedish military to supply software-defined radios.
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The contract between lbit Systems Deutschland GmbH & Co. KG and the Swedish Armed Forces will be effectuated over 30 months.
"Sweden is an important market for Elbit Systems and we hope to continue in growing our activities in Sweden," Elbit Systems C4I & Cyber general manager Haim Delmar said.
Elbit Systems, founded in 1966 and headquartered in the northern city of Haifa, operates in areas including aerospace, land and naval systems, communications and surveillance.
The news is part of a stellar 2021 for Elbit. The firm said it earned $1.72 per diluted share in the first quarter, up from $1.63 a year earlier, as revenue rose to $1.12 billion from $1.07 billion. Its order backlog, meanwhile, rose to a record $11.8 billion at the end of the quarter, against $10.8 billion a year earlier.
Also Thursday, Israel Aerospace Industries (IAI) announced that it will manufacture and deliver tactical radars to the German Land Forces in a deal worth €36 million.
"IAI is a pioneer in the development of persistent radar technology offering variety of products with sales worldwide," said Zvi Yarom, the VP of IAI's ELTA Land Systems Division.
"Throughout the years, our customers have provided us with real-time operational feedback and combat experiences that have been integrated into all of our products. We are proud to cooperate with ESG to deliver our advanced solutions to the German Land Forces."