Elbit Systems' Subsidiary, Cyclone, Awarded Contract by Spirit AeroSystems to Supply Composite Structural Components for Commerc
September 05 2007 - 4:01AM
PR Newswire (US)
Contract is Valued at Approximately $30 Million HAIFA, Israel,
September 5 /PRNewswire-FirstCall/ -- Elbit Systems Ltd.
(NASDAQ:ESLT) announced that its subsidiary, Cyclone Aviation
Products Ltd. (Cyclone), was awarded a contract by Spirit
AeroSystems, Inc. for composite structural components for
commercial aircraft. The contract is valued at approximately $30
million dollars and is scheduled for delivery between 2007 and
2011. The contract involves the supply of blocker doors for the
aircrafts' engines - a composite structural component - to Spirit
AeroSystems. Yoram Shmuely, Co-General Manager of Airborne and
Helmet Systems at Elbit Systems, said, "This contract win is yet
another sign reflecting the trust and recognition we have
established among major aviation suppliers of commercial airplane
assemblies and components. We believe this contract with Spirit
AeroSystems will pave the way for further business in this
fast-growing market characterized by advanced technologies and
innovative composite materials." About Cyclone Aviation Products
Ltd. Cyclone Aviation Products Ltd., located in the area of
Karmiel, Israel, is a wholly-owned subsidiary of Elbit Systems Ltd.
With approximately 400 employees, Cyclone's core business is
manufacturing and maintenance of aircraft structures as well as
engineering, manufacture, repair and upgrade of aircraft, UAVs and
helicopters. Cyclone manufactures both metal and composite
structural assemblies for UAVs, military aircraft such as the F-15,
F-16 and F-18, and civil/commercial aircraft. Cyclone also operates
the Israel Air Force's (IAF) aviation schools for Grob G-120A
(Snunit) aircraft and B-206 (Saifan) helicopters. Cyclone's
customer base includes the IAF, the U.S. Air Force, the U.S Army
and the U.S Navy as well as several major aviation companies, such
as Boeing. Lockheed Martin and Sikorsky. About Elbit Systems Ltd.:
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"), unmanned air vehicle
(UAV) systems, advanced electro-optics, electro-optic space
systems, EW suites, airborne warning systems, ELINT systems, data
links and military communications systems and radios. The Group
also focuses on the upgrading of existing military platforms and
developing new technologies for defense, homeland security and
commercial aviation 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. IR Contact:
Joseph Gaspar, Corporate VP & CFO Dalia Rosen, Director of
Corporate Communications Elbit Systems Ltd. Tel: +972-4-8316663
Fax: +972-4-8316944 E-mail: Company Contact: Ehud Helft / Kenny
Green G.K. Investor Relations Tel: +1-646-201-0246 Fax:
+972-3-6074711 E-mail: DATASOURCE: Elbit Systems Ltd CONTACT: IR
Contact: Joseph Gaspar, Corporate VP & CFO, Dalia Rosen,
Director of Corporate Communications, Elbit Systems Ltd., Tel:
+972-4-8316663, Fax: +972-4-8316944, E-mail: , ; Company Contact:
Ehud Helft / Kenny Green, G.K. Investor Relations, Tel:
+1-646-201-0246, Fax: +972-3-6074711, E-mail:
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