HAIFA, Israel, 27 June 2012. Elbit Systems Ltd. (NASDAQ:ESLT) won a $62 million contract to upgrade Korean Air Force C-130 transport aircraft with advanced electronics and a glass cockpit with Elbit Systems' digital flight displays.
"The global demand for transport aircraft upgrades and the experience we have accumulated in performing various similar projects such as the previous program for the Korean C-130, as well as programs for the Romanian C-130 and the Brazilian C-95, position us as favorably for similar projects to follow," Yoram Shmuely, co-general manager of Elbit Systems' Aerospace Division, says.
The project will be performed over four years in cooperation with Korea Aerospace Industries Ltd. (KAI), a local aircraft manufacturer in Korea.
"We are very proud of this award. It marks an additional milestone in the projects Elbit Systems has performed for the Korean Air Force in collaboration with Korea Aerospace Industries. This new contract is expected to further enhance capabilities of the Korean Air Force," Shmuely adds.