Elbit Systems Ltd (ESLT) Unit Receives $150M Contract from Dutch MoD
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Elbit Systems Ltd (NASDAQ: ESLT) announced that its subsidiary, Elbit Systems Land and C4I Ltd., was awarded a contract from the Dutch Ministry of Defense, to supply advanced systems for the infantry soldiers in the Benelux countries - Netherlands, Belgium and Luxemburg. The contract, valued at approximately US$150 million, will be performed over a five-year period. Elbit Systems will serve as the program prime contractor and Thales Netherlands B.V ("Thales") will be its main sub-contractor. Other local companies will take part in the project, providing support and immediate response to the customer's needs.
The Smart Vest, a cutting-edge technological program, is a co-operation between the soldier modernization programs of the Benelux countries: Netherlands' VOSS, Belgium's BEST and Luxemburg's COMPASS. It is the first strategic joint program of the Benelux countries, and will provide the ground soldiers with a cutting-edge system that will provide enhance survivability and safety while increasing their capabilities and effectiveness in the digital battlefield. The systems will be light-weight, modular and scalable and will interface with existing systems.
The Smart Vest program will include wearable and protective systems for the soldier, command and control systems, including advanced audio and data radio systems, specialized displays and C4I capabilities as well as vehicle systems.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems said: "We are very proud of the Benelux countries decision to choose Elbit Systems as the main supplier of soldier systems. The fact that such advanced armies have selected our solutions attests to our technological leadership and to the maturity of our solutions. We will welcome domestic Benelux companies to join us in the project in order to strengthen the support for the local customers."
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