Elbit Systems Ltd - Report of Foreign Issuer (6-K)
March 20 2008 - 9:18AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
____________________
FORM
6-K
Report of Foreign
Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the Month of March 2008
_______________________
Commission File Number
000-28998
ELBIT SYSTEMS LTD.
(Translation of Registrant’s Name into English)
Advanced
Technology Center, P.O.B. 539, Haifa 31053, Israel
(Address of Principal Corporate Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover
of Form 20-F or Form 40-F:
x
Form
20-F
o
Form
40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):
o
Note
: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if
submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):
o
Note
:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K submitted
to furnish a report or other document that the registrant foreign private issuer must
furnish and make public under the laws of the jurisdiction in which the registrant is
incorporated, domiciled or legally organized (the registrant’s “home
country”), or under the rules of the home country exchange on which the
registrant’s securities are traded, as long as the report or other document is not a
press release, is not required to be and has not been distributed to the registrant’s
security holders, and, if discussing a material event, has already been the subject of a
Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information contained in
this form is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934:
o
Yes
x
No
If “Yes” is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-______________
Attached hereto as Exhibit 1 and incorporated herein by
reference is the Registrant’s press release dated March 19, 2008.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
|
ELBIT SYSTEMS LTD.
(Registrant)
By:
/s/ Ronit Zmiri
Name: Ronit Zmiri
Title: Corporate Secretary
|
Dated: March 19,
2008
EXHIBIT INDEX
Exhibit No.
|
Description
|
1.
|
Press Release dated March 19, 2008.
|
|
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Exhibit 1
Elbit Systems’ Subsidiary Elisra Reaches Settlement
Agreement with The Phoenix Insurance Company
Regarding
Insurance Claim
Haifa, Israel, March 19, 2008 – Elbit Systems Ltd.
(NASDAQ: ESLT) (the “Company”) announced that on March 17, 2008 the District
Court of Tel-Aviv approved a Settlement Agreement between Elisra Electronic Systems Ltd.
and its subsidiaries Tadiran Electronic Systems Ltd. and Tadiran Spectralink Ltd.
(collectively “Elisra”), in which the Company holds a 70% ownership interest,
and The Phoenix Insurance Company Ltd. (the “Phoenix”). The Settlement
Agreement relates to a claim by Elisra for insurance payments for damages caused in a 2001
fire at the manufacturing facilities of Elisra’s subsidiaries in Holon,
Israel.
Under the Settlement Agreement the Phoenix will pay Elisra
approximately $38 million in addition to approximately $10 million in insurance proceeds
already paid. In accordance with the terms of the agreement signed in 2005 between the
Company and Koor Industries Ltd. (“Koor”) in connection with the acquisition by
the Company of Elisra’s shares held by Koor, as part of the consideration for the
purchase price of the Elisra shares, the Company agreed to pay Koor a portion of any
insurance proceedings received as a result of the claim against the Phoenix. Accordingly,
as a result of the Settlement Agreement, the Company will pay Koor a sum of approximately
$13 million.
The Company is evaluating the impact of the Settlement
Agreement on its consolidated financial results and does not expect it to be
material.
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
Company, which includes Elbit Systems 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 Company also focuses on the upgrading of existing military platforms and developing new
technologies for defense, homeland security and commercial aviation
applications
.
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:
gspr@elbit.co.il
daliarosen@elbit.co.il
|
IR
Contact
:
Ehud Helft / Kenny Green
G.K. Investor Relations
Tel: 1-646-201-9246
Fax:+972-3-607–4711
E-mail:
info@gkir.com
|
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS
(WITHIN THE EMANING 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
ITS SUBSIDIARIES (COLLECTIVELY THE COMPANY), TO THE EXTENT SUCH STATEMENT 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 DIFICULT TO PREDICT. THEREFOR, ACTUAL FUTURE
RESULTS, PERFORMANCE AND TRENDS MAY DIFFER MATERIALLY FROM THESE FORWARD-LOOKING STATEMENTS
DUE TO A VARIETY OF FACTORS, INCLUDING, WITHOUT LIMITATION: SCOPEAND 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
COMPANY 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 THE FILE WITH THE
U.S. SECURITIES AND EXCHANGE COMMISSION. ALL FORWARD-LOOKING STATEMENTS SPEAK ONLY AS OF
THE DATE OF THIS RELEASE. THE COMPANY DOES NOT UNDERTAKE TO UPDATE ITS FORWARD-LOOKING
STATEMENTS.
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