Elbit Systems' U.S. Subsidiary, Kollsman, Awarded Two Follow-On Orders for Laser Target Designators by the U.S. Marine Corps
February 27 2007 - 6:17AM
PR Newswire (US)
Follow-on Orders Valued at Approximately $51 Million HAIFA, Israel,
February 27 /PRNewswire-FirstCall/ -- Elbit Systems Ltd.
(NASDAQ:ESLT), announced that its U.S. subsidiary, Kollsman, Inc.,
an Elbit Systems of America company, received two follow-on orders
from the U.S. Marine Corps (USMC) for its high-performance Laser
Target Designator (LTD) systems that have proven successful in
field test evaluations. The additional orders, under an indefinite
delivery/indefinite quantity (IDIQ) contract, consisting of
approximately $16.9 million and $34 million respectively, represent
an increase over the initial order of July 2006. Part of the work
will be performed by Elbit Systems Electro-Optics Elop Ltd. Carried
and operated by Forward Air Controllers and Reconnaissance Marines,
the system provides a "bull's eye" for other units to target enemy
troops and equipment with munitions specifically designed for laser
guidance and high accuracy. During rigorous testing by the USMC,
the LTD met the performance requirements for having the required
marking range, operational suitability and life cycle support.
Commenting on the award, Elbit Systems of America President and
Chief Executive Officer Tim Taylor stated, "One of the
characteristics of 21st century conflicts is a heightened
sensitivity for avoiding unnecessary damage and loss of life. Tools
like the LTD provide the extra measure of precision that ensures
accurate targeting and safety for surrounding objects and
personnel." About Kollsman, Inc. Kollsman, Inc. is a global
development, manufacturing and support organization providing
advanced electro-optical and avionics systems to the commercial
aerospace, defense, and homeland security markets. The company's
expertise includes enhanced vision systems, flight displays,
head-up displays, thermal imaging systems, fire control systems,
and advanced security and surveillance solutions. About Elbit
Systems of America Elbit Systems of America companies are leading
providers of high performance products and sub-system solutions
focusing on the defense, homeland security, and commercial aviation
markets. With facilities in Texas, New Hampshire, Kansas, Alabama,
Georgia, Virginia, and California, Elbit Systems of America is
dedicated to supporting those who contribute daily to the defense
and safety of the United States. The Elbit Systems of America group
is wholly owned by Elbit Systems Ltd. (NASDAQ:ESLT), a global
electronics company engaged in a wide range of programs for
innovative defense and homeland security applications. Additional
news and information is available at http://www.kollsman.com/ and
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. 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 Secretaryand 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 Secretaryand 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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