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Rockwell-Elbit Bags $54m in Contracts
Elbit Systems Ltd. (ESLT - Snapshot Report) said on Tuesday that its joint venture with Rockwell Collins Inc. (COL - Snapshot Report) has bagged several contracts worth $54 million related to the F-35 aircraft.
The joint venture, Vision Systems International LLC, received the contracts from Lockheed Martin Corp. (LMT - Analyst Report) and involves delivery of 52 F-35 Helmet Mounted Displays and 30 additional aircraft systems.
Vision Systems has already received initial funding for the Pilot Fit Facility Standup at Eglin Air Force Base for the F-35 Helmet Mounted Display System program.
The contracts require deliveries to commence this year and continue through 2012.
Shares of ESLT have gained nearly 3% today.
COL is trading around break-even on volume of approximately 263,000, against the average daily volume of about 1.5 million.
Both ESLT and COL are Zacks #3 Rank ("Hold") stocks.
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| Market Summary | Nov 22, 2009 03:37 am ET |
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