Latest news with #ElbitSystems
Wall Street Journal
2 hours ago
- Business
- Wall Street Journal
Mideast Power Plays in India and Pakistan
Israeli weapons played an important role in last month's conflict between India and Pakistan, highlighting the flourishing India-Israel defense partnership. Israel unequivocally backed New Delhi, and the accuracy of India's Israeli-made weapons contrasted with the ineffectiveness of Pakistan's Turkish-made drones, which appear to have done little damage to Indian targets. Nitin Gokhale, a prominent Indian national-security analyst, says in a phone interview that Israeli drones, including the precision-guided Palm 400, Harop suicide drone and radar-destroying Harpy, performed well during the conflict. According to Mr. Gokhale, the Indian military is also pleased with its French fighter jets, Russian missile defense and the co-developed BrahMos missile, U.S. surveillance aircraft, and the indigenously developed Akash air-defense missile. How did Israel become a major arms supplier to India, the world's second-largest arms importer behind Ukraine? By developing a reputation in New Delhi for dependability in a crunch. Many Israeli weapons are on the cutting edge of technology that India seeks. And Israeli defense firms work closely with local counterparts. Israel Aerospace Industries has several joint ventures with Indian companies and set up an Indian subsidiary. Israel's Elbit Systems collaborates with Bharat Forge to make artillery and mortar systems and with Adani Defence & Aerospace to make drones. For India, cooperation with Israel diversifies its supply chain and expands its access to high-tech weapons. For Israel, access to the Indian market expands its defense-industrial base. The India-Israel partnership also benefits the U.S., whose own weapons sales to India have grown significantly over the past 25 years. India's turn toward American allies draws New Delhi closer to the West and reduces its dependence on Russian weapons.
Yahoo
2 days ago
- Business
- Yahoo
S&P Global Ratings Maalot Raises Elbit Systems' Long Term Rating to "ilAA+" (Local Scale), With a Stable Outlook and Reaffirms Short Term Rating of "ilA-1+" (Local Scale)
HAIFA, Israel, June 3, 2025 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that S&P Global Ratings Maalot Ltd., an Israeli rating agency ("Maalot"), issued its rating report regarding Elbit Systems (the "Rating Report"). In its Rating Report, Maalot raised its long term rating to "ilAA+" (on local scaling) with a stable outlook regarding the Company's Series B, C and D Notes, and reaffirmed its short term rating of "ilA-1+" (on local scaling) regarding the Company's Commercial Paper. In the Rating Report, Maalot noted as part of its main rationales: "Elbit is posting strong operating performance with a record-high backlog due to escalating geopolitical conflicts leading to high demand for its products." Maalot's Rating Report in Hebrew was submitted by Maalot to the Israel Securities Authority and the Tel Aviv Stock Exchange. An unofficial English translation of the Rating Report is submitted by the Company on Form 6-K to the U.S. Securities and Exchange Commission. This announcement shall not constitute a solicitation or an offer to buy any securities. About Elbit Systems Elbit Systems is a leading global defense technology company, delivering advanced solutions for a secure and safer world. Elbit Systems develops, manufactures, integrates and sustains a range of next-generation solutions across multiple domains. Driven by its agile, collaborative culture, and leveraging Israel's technology ecosystem, Elbit Systems enables customers to address rapidly evolving battlefield challenges and overcome threats. Elbit Systems employs approximately 20,000 people in dozens of countries across five continents. The Company reported $1.9 billion in revenues for the three months ended March 31, 2025 and an order backlog of $23.1 billion as of such date. For additional information, visit: follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels. Company Contact: Dr. Yaacov (Kobi) Kagan, Executive VP - CFOTel: + Daniella Finn, VP, Investor RelationsTel: + Dalia Bodinger, VP, Communications & BrandTel: This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States, among others, including the duration and scope of the current war in Israel, and the potential impact on our operations; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements. Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein. Logo: View original content: SOURCE Elbit Systems Ltd. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
5 days ago
- Politics
- Time of India
MIT Grad Wears Arab Headscarf; Torches Alma Mater's Israel Ties In Viral Speech
MIT Grad Wears Arab Headscarf; Torches Alma Mater's Israel Ties In Viral Speech |Watch Source: Indian-American student Megha Vemuri, MIT's 2025 Class President, used her graduation speech to accuse Israel of trying to "wipe Palestine off the face of the earth." She criticized MIT's past ties with Israeli defense firm Elbit Systems and condemned the destruction in Gaza. Her remarks sparked cheers at the ceremony and ignited fierce debate online, with both praise and backlash, including threats and doxxing.
The Guardian
6 days ago
- Business
- The Guardian
Pro-Palestine group targets Jewish-owned business alleging links to Israeli weapons firm
A Jewish-owned business in north London has been daubed in red paint and its shop window smashed by pro-Palestinian campaigners in an incident police are treating as racially aggravated. Three men were caught on CCTV in the early hours of Thursday attacking an investment group in Stamford Hill, an area with a large community of orthodox Jews. They also spray painted the words 'Drop Elbit' in red, a reference to Elbit Systems UK, an Israeli arms manufacturer. Palestine Action claimed responsibility for the attack. The group said it was targeting a business that is registered as the landlords of an Elbit weapons factory in Kent. A spokesperson for company, which requested anonymity for fear of further attacks, said it had no connection with Elbit and that the incident had terrified employees. They said: 'I turned up this morning and saw the place vandalised. For Jewish people it is very, very scary now.' Police have taken statements from employees and are investigating CCTV footage of the attack unfolding. The Metropolitan police said officers were called to the property at 7.23am. In a statement the force said: 'Inquiries are ongoing and no arrests have been made at this stage. This incident is being treated as racially aggravated criminal damage.' It added: 'We understand the concern this may cause members of the Jewish community. Officers are working with community leaders and patrols have increased across the local area.' In a statement, Palestine Action said: 'During the early hours of Thursday, activists from Palestine Action targeted the London-based landlords of Elbit's Instro Precision weapons factory. The registered address … was covered in red paint and the front windows were shattered, to demonstrate against the company's involvement in arming the Gaza genocide.' It added: 'Instro Precision is a weapons maker owned by Elbit Systems, Israel's biggest weapons producer.' The group claims that Instro Precision was granted more than a dozen weapons export licences last year for the shipment of arms to Israel. Palestine Action says it targets all those who profit from the operations of Israel's biggest weapons producer, and demanded the landlords evict Instro Precision.
Mint
22-05-2025
- Business
- Mint
Israeli Defense Firm Elbit Sees More Business Coming From Europe
The head of one of Israel's biggest defense firms said Europe sales will keep growing, shrugging off calls for sanctions and trade restrictions over the war in Gaza. 'We see great business potential in Germany, the UK, Romania, Sweden and Denmark,' Bezhalel Machlis, chief executive officer of Elbit Systems, which makes rockets, drones and laser-based aerial defense systems for the Israeli army, told Bloomberg in a phone interview. With Europe under pressure to beef up defense budgets with the war in Ukraine now in its fourth year and a new military operation underway in Gaza, Elbit is among the defense companies reporting more business. Sales surged 22% in the first quarter, helped by expanding military spending globally and in Europe in particular, its second-largest market. The stock has almost doubled in value in dollar terms in the past year. In a regulatory filing this morning the company said it had raised $512 million in an overnight sale of shares. Still, with relations between Israel and European nations souring because of the assault on Gaza, there's a risk that future sales may be affected. The UK has warned it is pausing a free trade agreement talks with Israel and Spain's foreign minister has pushed for tougher action. European Officials Step Up Pressure on Israel Over Gaza War European sales make up almost 30% of total consolidated revenues for Elbit. The European Union is planning hundreds of billions of euros of military spending since the US administration made clear it would no longer be the main guarantor of Europe's safety. The latest talk around ceasefire negotiations between Russia and Ukraine isn't prompting Machlis to temper his bullish growth predictions. Regardless of the outcome, Europe will have to lift its spending, he said. 'European leaders understand that ramping up defense budgets creates deterrence,' Machlis said. 'They also realize they need to have much more independent capabilities and be less dependent on the US.' This article was generated from an automated news agency feed without modifications to text.
