HAIFA, Israel, April 11, 2019 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or "the Company") announced today that it was awarded an approximately $30 million contract to supply STYLET, a precise Guided Mortar Munition (GMM) to a country in Asia-Pacific. The contract will be performed over a two-year period.
With a range of 1000-8500m, STYLET is a multi-mode GPS/INS guided 120mm GMM that is designed for tactical combat units and Special-Forces. STYLET's high accuracy of less than 10 meters Circular Error Probable (CEP) provides ground forces with an affordable precise solution that is easy and quick to operate, increasing their operational effectiveness while sharply reducing collateral damage.
Yehuda (Udi) Vered, General Manager of Elbit Systems Land, commented, "We are proud of the introduction of this new round into our portfolio of precise Guided Mortar Munitions. We see a growing demand for high-precision guided munitions that are also economically efficient. This contract award underscores the Company's significantly improved positioning in the ordnance area in general, and in the area of precise guided munitions in particular, following the acquisition of IMI Systems."