TEXT-Elbit Systems's Elisra gets South Korean contract

(The following was issued by Israel's Elbit Systems Ltd ESLT.OESLT.TA):

Feb 8 - Elisra Electronic Systems Ltd (Elisra) announced it was awarded a $7 million contract to supply airborne electronic warfare systems to Korean Aerospace Industries (KAI).

The systems will be implemented on the attack jet FA-50 which KAI manufactures for the Korean Air Force.

The contract calls for the development and production of prototypes, to be supplied to KAI in the course of the next two years.

KAI’s business plan calls for implementation of the system in an additional 60 jets over the next few years, and additional dozens of systems in a follow-on phase with a potential for export.

Yitzchak Gat, CEO of Elisra, noted that the contract is of significance, and that the Elisra system was selected following an extensive, in-depth evaluation process of different suppliers.

He added: “The selection is yet further evidence of the advanced nature of Elisra’s technology and we hope that the current award will be followed by additional orders”.

Elisra is a developer and manufacturer of electronic warfare and surveillance systems. Elisra is held 70 percent by Elbit Systems Ltd and 30 percent by Elta, a subsidiary of Israel Aerospace Industries Ltd.