Bulgaria may cancel Elbit Systems helicopter upgrade contract: Elbit Systems has not met contractual obligations, even after Bulgarian Ministry of Defense sent a warning letter to the company last week.

From: Globes (Tel Aviv, Israel) | Date: August 14, 2006 | Copyright information

Byline: Amnon Barzilai

Aug. 14--Bulgarian Minister of Defense Vesselin Vitanov Bliznakov has notified Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) that the ministry might cancel a a57.33 million contract with the company to upgrade combat helicopters. He claims that Elbit Systems did not meet contractual obligations, even after the ministry sent a warning letter to the company last week.

The "Sofia News Agency" quotes Bliznakov as saying, "Unless this situat...

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