Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) US unit M7 Aerospace LP has won a three-year contract from The Boeing Company (NYSE: BA) to supply inboard flap assemblies for the KC-135 Stratotanker. Elbit System said that the size of the contract is immaterial to the company.
The four-engine KC-135 is the predominant US Air Force tanker aircraft in operation. Inboard flaps, located on trailing edge of an aircraft's wing, increase lift, allowing the aircraft to fly at a lower airspeed for takeoff and landing.
M7 Aerospace has been a supplier of sheet metal details, machine parts, spoilers and other assemblies to Boeing for many years. The assemblies are for the KC-135, CH-47 Chinook helicopter, C-130 Hercules cargo plane, V-22 Osprey, and other aircraft.
San Antonio-based M7 Aerospace is a wholly-owned subsidiary of Elbit Systems of America LLC. Elbit Systems' share price rose 2% on Nasdaq yesterday to $47.34, giving a market cap of $2.02 billion, and rose 0.6% by midday on the TASE today to NIS 162.50.
No comments:
Post a Comment