The award of the mortar weapon systems contract consolidates Elbit's position as the leading provider of mortar systems for the US Army.
Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) announced today that its US subsidiary Elbit Systems of America LLC has been awarded an Indefinite Delivery/Indefinite Quantity ("ID/IQ") contract for the production of mortar weapon systems. The contract, worth up to $103 million, will be performed over a five-year period. An initial purchase order, for an amount that is not material to the company, has already been awarded.
Elbit Systems of America signed a Memorandum of Understanding (MOU) with the US Army's Watervliet Arsenal (WVA), New York, which will effectively employ WVA as a subcontractor to Elbit Systems of America on many mortar components.
Elbit Systems of America CEO Raanan Horowitz said, "We are extremely pleased to continue our partnership with the United States Army by supplying our warfighters with the mortar weapon systems that enhance their mission effectiveness and provide the necessary precision and flexibility to address current and future threats."
The award of the mortar weapon systems contract consolidates Elbit Systems of America's position as the leading provider of mortar systems for the US Army.