Elbit wins $127m Indian army tactical radios deal

Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) announced today that it has been awarded a $127 million contract to supply vehicular tactical radio systems to the Army of a country in South Asia. The contract will be performed over a three-year period.

Elbit did not mention to which country the tactical radios will be sold but market sources say that it is to India.

The radios to be supplied will include several configurations for integration onboard a range of armored fighting vehicles and tanks at the battalion and company levels.

Elbit Systems president and CEO Bezhalel Machlis said, "We are pleased with this contract award which shows that customers recognize the advantages of our radio systems. We believe that there is a significant growth potential for our communications and command and control solutions as armed forces increasingly seek to build up their networked warfare capabilities."

 globes