HAIFA, Israel, March 22, 2017 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit
Systems") announced today that it was awarded an approximately
$100 million contract by the Israeli
Ministry of Defense ("IMOD") for the supply of advanced radio
systems. According to the contract, Elbit Systems will manufacture
and provide hundreds of radio systems over the course of five
years. In addition, Elbit Systems is expected to receive additional
order to provide repair and maintenance services for 15 years.
Elbit Systems will expand its manufacturing and maintenance site in
Arad to include 100 employees, making it a center of excellence for
manufacturing and maintenance of advanced radio systems for the
Israel Defense Forces (IDF).
Under the contract, Elbit Systems will provide the IDF with hand
held, vehicle mounted and airborne third generation Software
Defined Radios (SDRs), enabling advanced network services at a high
security level. The maintenance activity will be performed under an
outsourcing model, as part of the Israeli Defense Ministry's
strategy to establish a full array of radio systems at high
operational availability while significantly reducing maintenance
expenses.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems,
noted: "We are very proud of this award, reinforcing our strategic
partnership with the city of Arad on the one hand and with the IDF
on the other. Employing 100 workers in Arad is in line with
Elbit Systems' strategy to enhance our presence in Israel's peripheral areas. We have many years
of experience in managing outsourcing projects in Israel and abroad, in radio communications as
well as other military fields, and I am confident this experience
will enable us to provide the IMOD with a top quality highly
operational solution for a cost effective price."
About Elbit Systems
Elbit Systems Ltd. is an international high technology company
engaged in a wide range of defense, homeland security and
commercial 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, advanced
electro-optics, electro-optic space systems, EW suites, signal
intelligence systems, data links and communications systems, radios
and cyber-based systems. The Company also focuses on the
upgrading of existing platforms, developing new technologies for
defense, homeland security and commercial applications and
providing a range of support services, including training and
simulation systems.
For additional information, visit: http://www.elbitsystems.com ,
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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.
Elbit Systems Ltd., its logo, brand, product, service and
process names appearing in this Press 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.
Contacts:
Company Contact:
Joseph Gaspar, Executive VP &
CFO
Tel: +972-4-8316663
j.gaspar@elbitsystems.com
Dalia Rosen, VP, Head of Corporate
Communications
Tel: +972-4-8316784
dalia.rosen@elbitsystems.com
Elbit Systems Ltd.
IR Contact:
Ehud Helft
Gavriel Frohwein
GK Investor Relations
Tel: 1-646-688-3559
elbitsystems@gkir.com
SOURCE Elbit Systems Ltd