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Elbit System wins Brazilian army contract worth $100 million

Reuters

JERUSALEM (Reuters) - Israeli defense electronics firm Elbit Systems Ltd (ESLT.TA) said on Sunday its Brazilian subsidiary Ares won a contract worth about $100 million to supply remote controlled weapon

stations to the Brazilian army.

The weapons stations, named REMAX, will be supplied over a five-year period and an initial production order, valued at approximately $7.5 million, has been received, Elbit (ESLT.O) said.

Chief Executive Bezhalel Machlis said there has been growing demand across the world for the remote controlled weapon

stations.

(Reporting by Ari Rabinovitch)