Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) announced today that Affinity Flying Services Limited, its UK joint venture with Kellog, Brown and Root Limited (KBR), has been awarded a fixed price contract for the support of Ascent Flight Training (Services) Ltd. from the UK Military Flight Training System (UKMFTS) program for the UK Ministry of Defence. Elbit Systems and KBR, each hold a 50% stake in Affinity.
The UKMFTS program is an innovative partnering agreement between UK Front Line Commands, the UK Ministry of Defense, Ascent and other leading industry partners to deliver aircrew training for the 21st century. The deal is worth an estimated £500 million ($713 million) over an 18-year period.
Elbit Systems CEO and president Bezhalel Machlis said, “This award attests to our position as a leading provider of systems and training infrastructure, as well as maintenance and logistics support service. The UK is one of Elbit Systems’ primary markets. The award of the contract to deliver this key programme for the UK’s armed forces is a significant recognition of our proven ability to adapt and deliver innovative global solutions to meet the specific needs of the UK market and customer.”
Published by Globes [online], Israel business news – www.globes-online.com – on February 2, 2016
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