Elbit Systems and ATK to Develop Laser Guided Advanced Tactical Rocket System
July 09 2008 - 8:30AM
PR Newswire (US)
MINNEAPOLIS, July 9 /PRNewswire-FirstCall/ -- Elbit Systems Ltd.
(NASDAQ:ESLT) and Alliant Techsystems (NYSE:ATK) announced today
that they have signed a teaming agreement to develop the Guided
Advanced Tactical Rocket - Laser (GATR-L). GATR-L provides an
affordable precision strike capability for all fixed-wing,
rotary-wing, and Unmanned Aerial Systems (UAS) platforms. The 70mm
rocket employs a Semi-Active Laser (SAL) guidance package to
achieve high accuracy against both stationary and moving targets.
In addition, GATR-L provides the ability to lock-on before launch
to ensure only the target of interest is engaged. GATR-L is
compatible with existing 70mm launcher hardware and utilizes
enhanced Insensitive Munitions technologies. Elbit Systems is a
world leader in laser guided weapon solutions, and ATK is a leader
in the production of rocket motors, advanced warhead and fuze
applications. The two companies are currently conducting ground and
airborne-guided tests. 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. About ATK ATK is a premier United States aerospace
and defense company with more than $4.5 billion in revenue and
17,000 employees. ATK is the world's largest solid rocket motor
propulsion provider for tactical, strategic and missile defense
systems, as well as scientific and commercial launch platforms. The
company is the largest manufacturer of conventional ammunition for
small, medium and large caliber systems. In addition, the company
is a pioneer of affordable precision weapon systems, a leading
provider of high-performance composite structures for commercial
and military aircraft, as well as a provider of advanced
Intelligent, Surveillance and Reconnaissance systems. ELBIT 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. ATK Certain information discussed in
this press release constitutes forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
Although ATK believes that the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it
can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and
uncertainties that could cause actual results to differ materially
from those projected. Among those factors are: the challenges of
developing next-generation precision attack munitions, changes in
governmental spending, budgetary policies and product sourcing
strategies; the company's competitive environment; the terms and
timing of awards and contracts; and economic conditions. ATK
undertakes no obligation to update any forward-looking statements.
For further information on factors that could impact ATK, and
statements contained herein, please refer to ATK's most recent
Annual Report on Form 10-K and any subsequent quarterly reports on
Form 10-Q and current reports on Form 8-K filed with the U.S.
Securities and Exchange Commission. Elbit Contacts: ATK Contacts:
Joseph Gaspar, Exec. VP & CFO Amanda Covington, Communications
Dalia Rosen, Corp. Communications Tel: 801-779-4625 Tel:
+972-4-8316663 Steve Wold, Investor Relations Fax: +972-3-8316944
Tel: 952-351-3056 E-mail: E-mail: DATASOURCE: ATK CONTACT: Joseph
Gaspar, Exec. VP & CFO, , or Dalia Rosen, Corp. Communications,
, both of Elbit Systems Ltd., +972-4-8316663, Fax, +972-3-8316944;
or Amanda Covington, Communications, +1-801-779-4625, , or Steve
Wold, Investor Relations, +1-952-351-3056, , both of Alliant
Techsystems Web site: http://www.atk.com/
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