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Military Imaging

Updated: July 8th, 2008 05:26 PM CDT

17 Million Order to Elbit Systems and Thales UK's Joint Company

via PRNewswire

HAIFA, Israel, October 28 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. reported that its joint venture company with Thales UK, UAV Tactical Systems Limited (U-TacS) was awarded by Thales UK a 317million order (more than $500 million), to be performed over an eight-year period. U-TacS' financial statements will be consolidated within Elbit Systems' financial reports. This order is part of the WATCHKEEPER program for which the UK Ministry of Defence and Thales UK signed a 700 million contract in August.

U-TacS will execute significant portions of the WATCHKEEPER Program for Thales UK, the WATCHKEEPER prime contractor.

The majority of U-TacS' activity will be executed in the UK with a significant amount of its work subcontracted to small- and medium-sized enterprises across the UK. Elbit Systems is U-TacS' largest subcontractor with approximately one third this contract's value.

U-TacS is expected to employ, during the initial stages, dozens of workers, most of whom will be recruited locally. U-TacS is currently in the process of establishing its facilities in Leicester, UK.

In addition to executing the WATCHKEEPER Program, Elbit Systems and Thales have agreed to jointly market tactical unmanned aerial vehicle (UAV) projects in other countries worldwide.

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