Israel's largest publicly traded weapons and defense company, Elbit Systems Ltd, said Sunday that the U.S. Marine Corps awarded it a contract worth 73.4 million U.S. dollars for laser-based range finder systems.
The Haifa-headquartered company said it won the contract through its fully-owned subsidiary Elbit Systems of America.
The contract extends through March 2020, the company said in a statement, adding that Elbit Systems of America has to date received an initial order in the amount of 7.5 million dollars.
Elbit's Common Laser Range Finder-Integrated Capability utilizes lasers to gauge distances and navigate.
Raanan Horowitz, president and chief executive officer of Elbit Systems of America, said the system would enable Marines to find targets without breaking cover from their concealed fighting positions.