Elbit says it stands to lose $65m. over nixed Turkey deal

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February 12, 2012 17:03

 
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Elbit Systems announced Sunday that it stands to lose close to $65 million from its yearly profits for 2011 due to the Defense Ministry's decision in December to stop the delivery of sophisticated intelligence systems to the Turkish Air Force.

According to Elbit's announcement to the Tel Aviv Stock Exchange, it was still in talks with Defense Ministry director-general Udi Shani about receiving compensation for the ministry's decision to nix the deal just weeks before planned delivery.

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