Elbit Systems of America's Subsidiary, Kollsman, Awarded $33.6 Million Initial Orders for Long Range Thermal Imagers for the USM
December 12 2005 - 6:31AM
PR Newswire (US)
Potential for Up to $250 Million in Additional Orders Under IDIQ
Contract HAIFA, Israel, December 12 /PRNewswire-FirstCall/ -- Elbit
Systems Ltd, (NASDAQ:ESLT) reported that its U.S. subsidiary
Kollsman, Inc., was awarded initial orders in the amount of $33.6
million to provide high-performance Thermal Binocular System Long
Range Thermal Imagers (LRTI) for the U.S. Marine Corps. The LRTI is
a portable binocular, hand-held, battery-operated thermal imager
for long-range observation and reconnaissance. Initial deliveries
will be made in 2006 and 2007. The majority of the work under the
contract will be performed by Kollsman in Merrimack, New Hampshire,
with support being provided by Elbit Systems Electro-Optics Elop
Ltd., a wholly owned Israeli subsidiary of Elbit Systems Ltd. The
initial orders were placed under an indefinite delivery/indefinite
quantity (IDIQ) contract awarded by the U.S. Marine Corps Systems
Command, Infantry Weapons Branch in Quantico, Virginia. Under the
IDIQ contract the U.S. Government may purchase up to 5,000 LRTI's
as well as spare parts, contractor maintenance and training items
over a five-year period. Therefore, there is the potential for up
to $250 million in additional orders to Kollsman under the IDIQ
contract. According to Elbit Systems of America's President and CEO
Tim Taylor: "The LRTI will provide ground troops with an effective
means of operation that is a crucial part of field operations. We
are very proud that Kollsman has been selected for this important
program in support of the Marine Corps." About Kollsman, Inc.
Kollsman, Inc., an Elbit Systems of America company, headquartered
in Merrimack, New Hampshire, is a multi-disciplined research,
development, manufacturing and support organization which provides
advanced electro-optical and avionics systems to U.S. and foreign
commercial and military markets. About Elbit Systems of America:
Elbit Systems of America (ESA) is a leading provider of electronics
and electronics-based solutions to government and commercial
aviation customers in the defense, homeland security, and aerospace
markets. Headquartered in Fort Worth, TX, Elbit Systems of America
employs approximately 1,200 professionals throughout the United
States. ESA is a wholly owned subsidiary of Elbit Systems Ltd.
(NASDAQ:ESLT). Additional information about Elbit Systems of
America and its operating businesses is available at
http://www.elbitsystemsofamerica.com/. About Elbit Systems Elbit
Systems Ltd. is an international defense electronics company
engaged in a wide range of defense-related programs throughout the
world, in the areas of aerospace, land and naval systems, command,
control, communications, computers, intelligence, surveillance and
reconnaissance ("C4ISR"), advanced electro-optic and space
technologies. The company focuses on the upgrading of existing
military platforms and developing new technologies for defense and
homeland security applications. Statements in this press release
which are not historical data are forward-looking statements which
involve known and unknown risks, uncertainties or other factors not
under the company's control, which may cause actual results,
performance or achievements of the company to be materially
different from the results, performance or other expectations
implied by these forward-looking statements. These factors include,
but are not limited to, those detailed in the company's periodic
filings with the Securities and Exchange Commission Contacts
Company contact Ilan Pacholder, Corporate Secretary and VP Finance
& Capital Markets Elbit Systems Ltd Tel: +972-4-831-6632 Fax:
+972-4-831-6659 IR Contacts Ehud Helft/Kenny Green GK International
Tel: +1-866-704-6710 Fax: +972-3-607-4711 DATASOURCE: Elbit Systems
Ltd. CONTACT: Company contact: Ilan Pacholder, Corporate Secretary
and VP Finance & Capital Markets, Elbit Systems Ltd, Tel:
+972-4-831-6632, Fax: +972-4-831-6659, . IR Contacts: Ehud
Helft/Kenny Green, GK International, Tel: +1-866-704-6710, Fax:
+972-3-607-4711, ,
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