JERUSALEM, Nov. 11 (Xinhua) -- Israeli defense electronics company Elbit Systems announced Thursday that it signed a 74-million-U.S.-dollar contract to supply a range of airborne munitions to the South Korean air force.
The deal, signed with South Korea's Ministry of National Defense, will be performed over a five-year period, it said in a statement.
The munitions will be supplied as part of the precision fires program of the South Korean Air Force, it added.
"We see an increase in the demand for our diverse portfolio of munitions as air forces seek fires capabilities of greater sophistication and impact," said Yehuda Vered, general manager of Elbit's land division.
Elbit Systems, founded in 1966 and located in Israeli northern city of Haifa, is an international hi-tech company engaged in a wide range of defense, homeland security and commercial programs worldwide.
It operates in areas of aerospace, land and naval systems, command, control, communications, intelligence surveillance and more.
It is traded at Nasdaq with a market cap of about 6.72 billion U.S. dollars. Enditem
