Israel Aircraft Industries’ Elta Systems Group Awarded $200 Million in New Contracts in Fourth Quarter of 2004
Jan 20, 2005
Total new orders in 2004 exceeds $1.4 billion
Elta Systems Ltd., a wholly owned subsidiary and Group of Israel Aircraft Industries, Ltd. (IAI), was awarded a series of contracts estimated to be worth $200 million from various domestic and international customers in the fourth quarter of 2004. This brings Elta’s total new orders in 2004 to over $1.4 billion. Elta’s backlog of orders for 2004 reaches approximately $2 billion.
A major part of the fourth quarter order total is related to one contract to supply advanced Imagery Intelligence systems (IMINT) to a foreign customer. Elta has selected Elop Industries Ltd., an Elbit System’s subsidiary as a sub-contractor. Elta also won a $10 million contract to supply Airborne Maritime Patrol Radar systems to another foreign customer as well as contracts for the supply of advanced Electronic systems to the Israel Defense Forces (IDF).
Israel Livnat, IAI’s Corporate Vice President and President of Elta Systems says, “the IMINT Systems contract and Elta’s other awards in the fourth quarter of 2004 underlines our position as a world leader in Imagery Intelligence Systems, as well as in other intelligence systems. Elta’s backlog of sales guarantees more than three years work and sustained growth.”
Elta was the recipient of several prestigious prizes and awards in 2004, including the Ministry of Defense’s Research & Development Directory Award for Creative Innovation, the Northrop-Grumman Silver Supplier Award and the Israel Industry Prize awarded by the Manufacturers Association of Israel.
Elta Systems, a Group & Subsidiary of Israel Aircraft Industries operates as a defense systems house and specializes in a wide variety of airborne, maritime and ground defense electronic systems and products. Elta Systems products are designed for Intelligence, Surveillance and Reconnaissance, Early Warning & Control, Self-Protection and Self-Defense, Target Acquisition and Fire Control applications. These systems and products are based on electromagnetic sensors (Radar, SIGINT, Electronic Warfare and Communication) and on Information Technology.
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January 25, 2005 at 10:59 am