Artillery price

Elbit Systems Wins $130 Million Artillery Ammunition Contract

Israeli Defense Electronics Company Elbit Systems Ltd. (Nasdaq: ILEC; TASE:ILEC) announced today that it has been awarded contracts totaling $130 million for the delivery of an artillery ammunition production line to an Asia-Pacific country. Elbit said the contracts will run for 30 months.

Under the terms of the contracts, Elbit Systems will build a turnkey industrial complex for the improved manufacture of artillery ammunition.







President and CEO of Elbit Systems, Bezhalel Machlis, said, “This contract award attests to the quality of our portfolio and our proven ability to achieve technology cooperations in partner countries.

Even before the Russian invasion of Ukraine, Elbit’s share price was outperforming and the company has been further boosted in recent weeks by announcements from European countries that they are increasing their defense budgets. Sweden said it was increasing its defense budget by 2% of GDP and Germany had committed an additional $100 billion to defense spending.

Elbit’s stock price rose 1.29% on Wall Street on Friday to $233.73, giving a market capitalization of $10.352 billion. The share price is up 4.02% on the TASE today at NIS 771.50, giving a market capitalization of NIS 34.06 billion.

Published by Globes, Israel business news – en.globes.co.il – on March 27, 2022.

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