Elop Wins $50M Korean Contract

HAIFA, Israel, Dec. 19 -- Electro-Optics Industries Ltd. (Elop) has been selected by the Korean Air Force to supply real-time electro-optical/infrared (EO/IR) long-range oblique imagery systems for its F-16 aircraft. The contract, which according to Elop is expected to be approved shortly by the Korean Ministry of Defense, is valued at approximately $50 million and will take several years to fulfill.

Elop said its EO/IR system was chosen after demonstrating its performance during flight and also meeting the Korean Air Force's requirements. Elop is a wholly owned subsidiary of Elbit Systems, an international defense electronics company based in Israel. It is a provider of electro-optics systems and ISR (intelligence, surveillance and reconnaissance) systems.

Elop's current customers include the Israel Defense Forces, Lockheed Martin, Boeing, Northrop Grumman and Thales. Last week the company announced that it, together with its main subcontractor, Thales UK Land and Joint Systems in Taunton, England, has been chosen to supply Elop's Compass advanced observation system for the UK Watchkeeper unmanned aerial vehicle program.

For more information, visit: www.elbit.co.il