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(Globes) Shiri Habib-Valdhorn - In the past two years, the West has been rearming and Elbit Systems has been a beneficiary. Between August 2023 and February 2024, new contracts reported by the company amounted to almost $2.3 billion. In addition, Elbit Systems has won several weighty contracts from Israel's Ministry of Defense. The war that began on Oct. 7 has meant a great deal of work for Elbit, which had to find creative solutions to meet the demand, with many of its employees drafted into the IDF reserves. Elbit Systems has hired hundreds of people since the outbreak of the war, and has brought back over 100 pensioners to the production lines. Following the war in Ukraine, in the first three quarters of 2023, Elbit's revenue from Europe grew by 54.8%, to $1.3 billion. Europe became the main revenue source, accounting for 30.6% of the total, up from 21.4% in the corresponding period of 2022. 2024-03-04 00:00:00Full Article
For Israel's Elbit Systems, Business in Europe Is Booming
(Globes) Shiri Habib-Valdhorn - In the past two years, the West has been rearming and Elbit Systems has been a beneficiary. Between August 2023 and February 2024, new contracts reported by the company amounted to almost $2.3 billion. In addition, Elbit Systems has won several weighty contracts from Israel's Ministry of Defense. The war that began on Oct. 7 has meant a great deal of work for Elbit, which had to find creative solutions to meet the demand, with many of its employees drafted into the IDF reserves. Elbit Systems has hired hundreds of people since the outbreak of the war, and has brought back over 100 pensioners to the production lines. Following the war in Ukraine, in the first three quarters of 2023, Elbit's revenue from Europe grew by 54.8%, to $1.3 billion. Europe became the main revenue source, accounting for 30.6% of the total, up from 21.4% in the corresponding period of 2022. 2024-03-04 00:00:00Full Article
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