(Source: Israel Aerospace Industries (IAI))
12:00 AM, November 13, 2008
2090
ELTA Systems Ltd., a Group and wholly-owned subsidiary of Israel Aerospace Industries Ltd. (IAI) was recently awarded two contracts from a customer in the Far East. The total value of these contracts is almost $40 million.>> One $20 million contract is for EL/M-2055 Synthetic Aperture Radar (SAR) UAV payloads. These are airborne, all-weather surface Image Intelligence (IMINT) systems, based on Synthetic Aperture Radar technology.>> The second contract is valued at $19.5 million and is for Airborne Maritime Surveillance Radars for Maritime Patrol Aircraft.>> Nissim Hadas, IAI Corporate VP & President of ELTA's Systems Ltd. said: "ELTA has an international reputation in advanced airborne IMINT systems based on radar sensors and advanced technologies. These systems operate similarly from any airborne platform, including UAVs.>> Sales by ELTA's Systems in the first half of 2008 reached $520 million, compared with $457 million in the first half of 2007, an increase of $63 million (14 percent).>> This growth was possible mainly due to progress in ELTA's Airborne Early Warning & Control Aircraft projects and other advanced intelligence systems.>> IAI's sales in the first half of 2008 reached $1,905 million, compared with $1,590 million in the first half of 2007, an increase of $315 million (20 percent).>>> Israel Aerospace Industries Ltd. is a recognized leader in the aerospace and defense industry and Israels largest industrial exporter.>> ELTA Systems Ltd., a Group and wholly-owned subsidiary of IAI, is one of Israel's leading defense electronics companies and a leader in Intelligence, Surveillance, Target Acquisition and Reconnaissance (ISTAR), Early-Warning Command & Control, Home-Land Security, Self-Protection and Self-Defense, and Fire-Control applications on board both manned and unmanned aircraft.
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