Elbit Systems Awarded Israel Ministry of Defense Contracts to Supply Various Systems for a Total Amount of Approximately $315 Million
The new contracts relate to a variety of the Company's fields of activity and include Unmanned Systems, Electronic Warfare, Electro-Optic Systems, Avionics and Land Systems
HAIFA, Israel, December 31, 2012 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ and TASE:ESLT) ("Elbit Systems") announced today that it was awarded various contracts by the Israel Ministry of Defense ("IMOD"), in a number of fields of activity for a total value of approximately $315 million.
The contracts relate to the following areas:
Avionics Systems: battle management systems ("BMS") and avionics for helicopters, virtual training for the Israeli Air Force's ("IAF") fighter aircraft array and operation and maintenance services for the IAF's Flight Academy, in a total of approximately $75 million, covering deliveries over a six-year period.
Unmanned Systems: Hermes® 900 Unmanned Aircraft Systems ("UAS") to be supplied within three years, as well as maintenance services for UAS over a period of eight years, in a total value of approximately $90 million.
Electronic Warfare (EW) Systems: systems for F-15 and F-16 fighter aircraft and for the Navy's Missile Vessels, in a total amount of approximately $90 million, for supply over the next four years.
Electro-Optic Systems: advanced observation and long-range target acquisition systems, in an amount of approximately $25 million, to be supplied over a three-year period.
Land Systems: Cardom electronic and mortar artillery systems, known in the Israel Defense Forces ("IDF") as "Keshet", for a total value of approximately $35 million, for supply over a six-year period.
Elbit Systems employs approximately 10,000 employees in Israel and provides work for an additional approximately 7000 employees of our local subcontractors. The Company operates in 15 different sites throughout Israel, from Kiryat Shmona, Tel-Hai and Karmiel in the North to Ashdod, Arad, Hatzerim and Sderot in the South.
About Elbit Systems
Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems ("UAS"), advanced electro-optics, electro-optic space systems, EW suites, airborne warning systems, ELINT systems, data links and military communications systems and radios. The Company also focuses on the upgrading of existing military platforms, developing new technologies for defense, homeland security and commercial aviation applications and providing a range of support services.
For additional information, visit: http://www.elbitsystems.com.
This press release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact. Forward Looking Statements are based on management's expectations, estimates, projections and assumptions. 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 and uncertainties, which are difficult to predict. 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; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; 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. The Company does not undertake to update its forward-looking statements.
Joseph Gaspar, Executive VP & CFO
Dalia Rosen, VP, Head of Corporate Communications
Elbit Systems Ltd.
CCG Investor Relations
SOURCE Elbit Systems Ltd
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