Elbit Systems Joint Venture With Rockwell Collins, VSI Awarded JHMCS Contracts Valued at More Than $60 Million
October 23 2007 - 6:35AM
PR Newswire (US)
HAIFA, Israel, October 23 /PRNewswire-FirstCall/ -- Elbit Systems
Ltd. (NASDAQ:ESLT) announced that its joint venture with Rockwell
Collins, Vision Systems International LLC (VSI), a leader in
advanced Helmet Mounted Display (HMD) technology, received several
new contracts with a total value of more than $60 million. The
Boeing Company awarded VSI a contract for the delivery of more than
300 additional Joint Helmet Mounted Cueing Systems (JHMCS). VSI has
supplied the JHMCS to Boeing since the program's inception in 1996;
this award represents their eighth production contract. Under the
Boeing agreement, VSI will provide JHMCS hardware, including
spares, technical support and support equipment for the Full Rate
Production - Lot 4 (FRP-4). Additional contracts will satisfy U.S.
government domestic requirements for numerous aircraft such as the
U.S. Air Force F-15 and F-16, Air National Guard F-15, U.S. Navy
F/A-18E/F, as well as foreign military sales for Greece (F-16),
Poland (F-16), Belgium (F-16), Turkey (F-16), Australia (F/A-18),
Switzerland (F/A-18) and Canada (F/A-18). "With the addition of
Belgium and other Air Forces, VSI now has a total of 19 customers
for JHMCS," said Drew Brugal, President of VSI. "Our products are
providing unprecedented situational awareness to pilots throughout
the world." The JHMCS provides the pilot with "first look, first
shot" high off-boresight weapons engagement capabilities. The
system enables the pilot to accurately cue onboard weapons and
sensors against enemy aircraft and ground targets without the need
to aggressively turn the aircraft or place the target in the
Heads-Up Display (HUD) for designation. Critical information and
symbology, such as targeting cues and aircraft performance
parameters, are graphically displayed directly on the pilot's
visor. This information, combined with the display of data-link
cues, as well as, navigational and aircraft performance parameters
provides the pilot with a tremendous increase in situational
awareness. About VSI Formed in 1996, VSI, is a joint venture
between EFW Inc., an Elbit Systems of America company and a
subsidiary of Elbit Systems Ltd. (NASDAQ:ESLT), and Rockwell
Collins (NYSE:COL). VSI was formed to develop, manufacture and
support fixed wing HMDs worldwide. VSI today is the leading
supplier of fixed-wing HMDs worldwide. In addition to the JHMCS
production, VSI is developing the advanced HMD for the F-35 (JSF),
a QuadEye(TM) Night Vision Cueing & Display (NVCD) system for
the US Navy and US Air Force, and is also producing the Display and
Sight Helmet (DASH) Generation IV HMD under multiple contracts.
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"), 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. Contacts: Company Contact: IR Contact: Joseph Gaspar,
Corporate VP & CFO Ehud Helft / Kenny Green Dalia Rosen,
Director of Corporate Communications, Elbit Systems Ltd, G.K.
Investor Relations, Tel: +972-4-8316663, Tel: 1-646-201-9246, Fax:
+972-4-8316944, Fax: +972-3-607-4711, E-mail: , E-mail: 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 COMPANIES IN THE ELBIT SYSTEMS GROUP, 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 ELBIT SYSTEMS GROUP 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. ELBIT SYSTEMS DOES NOT UNDERTAKE TO UPDATE ITS
FORWARD-LOOKING STATEMENTS. DATASOURCE: Elbit Systems Ltd CONTACT:
Contacts: Company 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: , ; IR
Contact: Ehud Helft / Kenny Green, G.K. Investor Relations, Tel:
1-646-201-9246, Fax: +972-3-607-4711, E-mail:
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