hajaji
07-21-2005, 01:55 PM
UK approves UAV project; Elbit Systems is sub-contractor
The "Watchkeeper" project, led by French company Thales, is worth some $1.2 billion.
Ron Stein 21 Jul 05 10:51
"Defense News" reports that, yesterday, the British government approved a £700 million (€1 billion, $1.2 billion) project with French company Thales, for the supply of unmanned aerial vehicles (UAV), or drones, to the British Army.
The project, codenamed "Watchkeeper", is for the supply of intelligence gathering UAVs. Israeli company Elbit Systems (Nasdaq: ESLT; TASE: ESLT) is the main sub-contractor in the Thales consortium. Thales has been given the go-ahead for the development and production stage of the project by UK defence secretary John Reid. It is expected that the contract will be signed in August.
Thales's win in the tender was announced last year. At the time it was reported that the project was worth £800 million.
Besides Elbit Systems, the Thales consortium includes Cubic Defence and Boeing.
In April this year it was reported that Elbit Systems, together with Israel Aircraft Industries, had won a contract estimated to be worth $200 million to supply UAVs to the Turkish military.
Elbit Systems shares closed at $23.43 yesterday, giving the company a market cap of $950 million.
Published by Globes [online], Israel business news - www.globes.co.il - on July 21, 2005
The "Watchkeeper" project, led by French company Thales, is worth some $1.2 billion.
Ron Stein 21 Jul 05 10:51
"Defense News" reports that, yesterday, the British government approved a £700 million (€1 billion, $1.2 billion) project with French company Thales, for the supply of unmanned aerial vehicles (UAV), or drones, to the British Army.
The project, codenamed "Watchkeeper", is for the supply of intelligence gathering UAVs. Israeli company Elbit Systems (Nasdaq: ESLT; TASE: ESLT) is the main sub-contractor in the Thales consortium. Thales has been given the go-ahead for the development and production stage of the project by UK defence secretary John Reid. It is expected that the contract will be signed in August.
Thales's win in the tender was announced last year. At the time it was reported that the project was worth £800 million.
Besides Elbit Systems, the Thales consortium includes Cubic Defence and Boeing.
In April this year it was reported that Elbit Systems, together with Israel Aircraft Industries, had won a contract estimated to be worth $200 million to supply UAVs to the Turkish military.
Elbit Systems shares closed at $23.43 yesterday, giving the company a market cap of $950 million.
Published by Globes [online], Israel business news - www.globes.co.il - on July 21, 2005