UPDATE 1-Elbit Systems gets $187 mln Embraer contract

(Adds details, share price)

TEL AVIV Nov 11 (Reuters) - Israeli defence contractor Elbit Systems Ltd (ESLT.O) said on Tuesday it won a contract from Brazilian aircraft manufacturer Embraer (EMBR3.SA) for the supply of avionics for the Brazilian AMX jet upgrade project.

The initial development and prototype phase of the contract is worth $67 million. The entire contract, including the subsequent production phase, is valued at $187 million and is scheduled to be completed through 2014, Elbit (ESLT.TA) said in a statement.

Elbit Systems' Tel Aviv-listed shares opened 1.1 percent higher, compared with a decline of more than 1 percent in the broader market .TA100.

Implementation of the production phase following completion of the development and prototype phase is subject to further approval.

Elbit Systems was selected as the main subcontractor of Embraer (ERJ.N), the prime contractor for the project and the manufacturer of the AMX jet, which is to be supplied to the Brazilian air force.

Elbit said it would perform the project with its wholly owned Brazilian subsidiary Aeroeletronica SA (AEL).

Elbit Systems and AEL will supply the central battle mission computer of the AMX, as well as display systems, the ammunition management system and additional systems.

Elbit Systems' Israeli subsidiary, Elisra Electronic Systems, will supply the electronic warfare systems. (Reporting by Tova Cohen; Editing by Steven Scheer)