Elbit Systems Completes Merger of Tadiran Communications
July 01 2008 - 9:23AM
PR Newswire (US)
HAIFA, Israel, July 1 /PRNewswire-FirstCall/ -- Elbit Systems Ltd.
(NASDAQ:ESLT) (Elbit Systems) announced that all approvals required
for the merger of Tadiran Communications Ltd. (Tadiran
Communications) with and into Elbit Systems have been obtained, and
the Israeli Registrar of Companies issued its merger order on June
30, 2008. This is further to the announcement on November 7, 2007,
regarding Elbit Systems Board of Directors' approval of the merger.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 )
Pursuant to the approved merger, Tadiran Communications transferred
all of its assets and liabilities to Elbit Systems, merged with and
into Elbit Systems and no longer exists as a legal entity. The
Merger is part of Elbit Systems' re-organization plan. It includes
a merger and a vertical demerger of Elbit Systems' Land Systems and
C4I Division together with most of the operations and activities of
Tadiran Communications in Israel prior to the merger into a
wholly-owned Israeli subsidiary, Elbit Systems Land and C4I -
Tadiran Ltd. The demerger occurred immediately after the approval
of the merger and as an integral part thereof. In addition, Tadiran
Communications' former U.S. subsidiaries have become a part of the
Elbit Systems of America companies. 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. 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 its subsidiaries (collectively the Company), 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 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
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. Contacts: Company Contact: IR Contact:
Joseph Gaspar, Executive VP & CFO Ehud Helft / Kenny Green
Dalia Rosen, Head of Corporate Communications G.K. Investor
Relations Elbit Systems Ltd Tel: +1-646-201-9246 Tel:
+972-4-8316663 Fax: +972-3-607-4711 Fax: +972-4-8316944 E-mail:
E-mail:
http://www.newscom.com/cgi-bin/prnh/20080408/300441DATASOURCE:
Elbit Systems Ltd CONTACT: Contacts: Company Contact: Joseph
Gaspar, Executive VP & CFO, Dalia Rosen, Head 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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