Elbit Systems Signs Contract, Valued at Eur44.8 Million (Approximately $58 Million) to Supply Unmanned Turrets and Electro-Optic
January 08 2007 - 4:44AM
PR Newswire (US)
HAIFA, Israel, January 8 /PRNewswire-FirstCall/ -- Elbit Systems
Ltd. (NASDAQ:ESLT) reported today that it has signed a contract to
supply unmanned turrets and electro-optic systems for the Belgian
Armored Infantry Vehicle Program. This is further to the Company's
announcement on February 2, 2006 that it was selected for the
Program. The contract, valued at EUR44.8 million (approximately $58
million), is pursuant to a co-operation between Elbit Systems and
the Swiss company Mowag of the General Dynamics European Land
Combat Systems Group. Mowag was selected by the Belgian Government
to be the prime contractor for the supply of the Piranha III
vehicles for the Program. The Program currently consists of 138
vehicles out of a potential total of 242 vehicles. Elbit Systems'
portion of the Program includes the delivery of 30 mm unmanned
turrets and various electro-optic and electronic sub-systems, with
deliveries scheduled to take place between 2007 - 2012. Joseph
Ackerman, President and CEO of Elbit Systems, said: "We are proud
to be selected to take part in this important project for the
Belgian Armed Forces. We are pleased to co-operate with Mowag, and
this co-operation reflects the level of recognition we have
achieved with our customers, end users and business partners
worldwide. The selection of our systems constitutes a breakthrough
in an emerging international market emanating from a shift in the
modern battlefield. These systems implement the Elbit Systems
Group's integrative and comprehensive abilities as well as our
understanding of the modern combat arena." About Elbit Systems
Elbit Systems Ltd. is an international defense electronics company
engaged in a wide range of defense-related programs throughout the
world. The Elbit Systems Group, which includes the company and its
subsidiaries, operates in the areas of aerospace, land and naval
systems, command, control, communications, computers, intelligence,
surveillance and reconnaissance ("C4ISR"), advanced electro-optic
and space technologies, EW suites, airborne warning systems, ELINT
systems, data links and military communications systems and
equipment. The Group also focuses on the upgrading of existing
military platforms and developing new technologies for defense and
homeland security applications. 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 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. DATASOURCE: Elbit Systems Ltd CONTACT: 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, ,
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