http://www.jpost.com/servlet/Satellite?pagename=JPost/JPArticle/ShowFull&cid=1092107168416, Defense electronics company Elbit Systems subsidiary, Vision Systems International (VSI), signed a $75.6 million deal with Boeing for the production of more than 300 joint helmet mounted cueing systems (JHMCS), the Haifa-based company said Tuesday.
The contract is the fourth order received by VSI for the systems since April 2003 and the third from the Boeing subsidiary in St. Louis, bringing its total revenue from the helmet to $282.9m.
The system allows fighter pilots to lock on and fire at enemy aircraft without having to maneuver their aircraft into position. The pilot needs only to point his head at the target and weapon systems are automatically cued to the target.
Already in operation and used extensively in support of the war in Iraq with US fighter aircraft, JHMCS provides pilots with a “first look, first shot” capability when employed with high off-boresight weapons under high-G conditions.
The deal has particular significance for VSI as it is the first order the company has received since completing its testing procedure and receiving approval for the mass production of the system. Its first full-rate production of the JHMCS brings VSI's total production quantity to more than 1,000 systems since April.
Under the terms of the contract, VSI will provide the display systems, spare parts, technical support, and support equipment for the helmets' first acquisition, which is due to commence in March 2005.
VSI was established in 1996 as a joint venture between Elbit System and Iowa-based aviation technology provider Rockwell Collins, to develop, manufacture, and support fixed-wing, helmet-mounted systems to US and international front-line fighter aircraft. The cooperation between the two has been “extremely successful” said president and CEO of Elbit Systems, Joseph Ackerman.
He added that “the transition to full-rate production for JHMCS demonstrates the high level of confidence which both the US government and Boeing have in VSI's ability to deliver a high-performance, quality product on time.”
The deal's announcement follows Elbit's disclosure on Monday of its second quarter earnings, with net income of $11.3m compared to $9.2m in the same period in 2003. Revenues increased 5.9 percent to $231.6m from $218.8m in the corresponding quarter in 2003.
Following the announcement Elbit Shares rose 1.8% to NIS 97.11 on the Tel Aviv stock exchange.
