Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that its subsidiary, Elbit Systems of America LLC, ("Elbit Systems of America") was awarded a contract by Raytheon Company (NYSE: RTN) to provide the Two Color Laser System (TCLS) for the Multi-Spectral Targeting System. The initial contract is in an amount not material to Elbit Systems and will be performed during 2019.
TCLS is a production component within the electro-optical surveillance system for multiple military airborne platforms, including the next-generation targeting systems onboard unmanned aerial vehicles.
Raanan Horowitz, President and CEO of Elbit Systems of America, said: "The Two-Color Laser System provides increased targeting accuracy and flexibility, minimizing the potential for collateral damage. These attributes are key to U.S. warfighters who depend on these systems for a successful mission."