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March 20, 2014 2:02 pm

Israeli Elbit Systems Wins $290 Million Asian Tank Contract

avatar by Joshua Levitt

Elbit Systems.

Elbit Systems.

Israeli defense contractor Elbit Systems won a $290 million three-year contract with an unnamed Asian country to upgrade its army’s tanks, Israel’s Globes business daily reported on Thursday.

Elbit Systems said that the upgrade will provide the tanks with night operation capabilities, gunner sights and fire control systems.

Elbit Systems president and CEO Bezhalel Machlis said, “Asia-Pacific is one of Elbit Systems’ key markets and we are very glad to announce yet another success in this region.”

On Wednesday, the company reported $2.95 billion in 2013 revenue, and predicted stronger growth in 2014, with an order book of $5.82 billion, up from $5.68 billion a year earlier, with 69% from exports.

Net profit rose to $183.4 million from $167.9 million a year earlier, it said.

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