Bharat Electronics (BEL) has bagged offset contract from Elbit Systems Electro-Optics Elop, Israel for the supply of 10 CoMPASS Systems for use in the Light Combat Helicopters (LCH) being manufactured by Hindustan Aeronautics (HAL).
The company received the CoMPASS offset contract at Aero India 2017. BEL (Q,N,C,F)* has entered into a technical collaboration agreement with Elbit Systems for the joint production and D-Level maintenance of Compact Multi-Purpose Advanced Stabilised System (CoMPASS, the trade name for EO/IR payload) for the helicopter programmes.
BEL has absorbed transfer of technology (ToT) for production and maintenance of CoMPASS in India. BEL will not only supply but also provide maintenance support for CoMPASS to the user.
Shares of the company gained Rs 1.7, or 0.11%, to trade at Rs 1,526.00. The total volume of shares traded was 11,659 at the BSE (1.03 p.m., Thursday).