ATK and Elbit Systems Conduct Successful Flight Test of GATR
October 06 2008 - 10:53AM
PR Newswire (US)
MINNEAPOLIS, Minnesota, October 6 /PRNewswire-FirstCall/ -- Alliant
Techsystems (NYSE:ATK) and Elbit Systems Ltd. (NASDAQ:ESLT)
announced today that they have successfully conducted flight tests
of the Guided Advanced Tactical Rocket (GATR) at White Sands
Missile Range in New Mexico. Targets were engaged at ranges up to
six kilometers when the GATR semi-active laser seeker guided the
rockets to within one-meter accuracy, resulting in "direct hits."
All rockets were fired from an M261 launcher. (Logo:
http://www.newscom.com/cgi-bin/prnh/20080408/300441 ) The rocket
benefits from a robust design, which combines combat-proven
performance, a minimum smoke signature, and the reliability of an
ATK-produced propulsion system, similar to a system employed on
millions of rockets produced for the United States Army. GATR
contains a guidance and control system built with the experience of
Elbit's heritage in high-performance laser seekers for the United
States and international customers. It employs advanced
acquisition, tracking, and guidance algorithms to achieve one-meter
accuracy against stationary and moving targets. In its tactical
configuration, GATR will incorporate an Insensitive Munitions (IM)
rocket motor and a family of IM warheads to include
blast/fragmentation and penetration. GATR will be a low-cost,
precision strike weapon that minimizes collateral damage, while
providing stand-off deployment against a wide array of target sets.
GATR supports lock-on before or after launch as well as autonomous
or remote laser designation. The system can be deployed against
targets at ranges of 1.5 to 8+ kilometers from fixed and
rotary-wing aircraft, as well as unmanned aerial vehicles. It is
compatible with existing 2.75"/70mm launcher hardware. GATR will be
particularly effective in urban areas or against targets where a
low collateral damage warhead is required. The GATR system is
designed as a complimentary weapon to fill the gap between larger,
more expensive guided missiles and the current family of unguided
rockets. About ATK ATK is a premier United States aerospace and
defense company with more than 17,000 employees in 21 states and
approximately $4.6 billion in revenue. 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. 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 SYSTEMS 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. Elbit Contacts: Joseph Gaspar, Exec. VP
& CFO Dalia Rosen, Corp. Communications Tel: +972-4-8316663
Fax: +972-3-8316944 E-mail: ATK Contacts: Amanda Covington,
Communications Tel: +1-801-779-4625 Steve Wold, Investor Relations
Tel: +1-952-351-3056 E-mail:
http://www.newscom.com/cgi-bin/prnh/20080408/300441DATASOURCE:
Elbit Systems Ltd CONTACT: Elbit Contacts: Joseph Gaspar, Exec. VP
& CFO, Dalia Rosen, Corp. Communications, Tel: +972-4-8316663,
Fax: +972-3-8316944, E-mail: , . ATK Contacts: Amanda Covington,
Communications, Tel: +1-801-779-4625, Steve Wold, Investor
Relations, Tel: +1-952-351-3056, E-mail: ,
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