Elbit Systems to Perform Airborne Upgrade Projects in Europe Valued at $80 Million
December 17 2008 - 4:51AM
PR Newswire (US)
HAIFA, Israel, December 17 /PRNewswire-FirstCall/ -- Elbit Systems
Ltd. (NASDAQ:ESLT) announced that it was recently awarded several
airborne upgrade contracts at a total value of approximately $80
million. Signed with European customers, the projects will be
performed over the course of the next three years. (Logo:
http://www.newscom.com/cgi-bin/prnh/20080408/300441 ) The contracts
awarded, which call for the upgrade of both fixed-wing aircraft and
helicopters, will encompass the installation of some of Elbit
Systems' innovative systems, including: display systems, battle
mission computers, command & control systems and advanced
helmet systems. Yoram Shmuely, Joint General Manager of Elbit
Systems' Aerospace Division, commented: "The new contracts were all
received from existing customers for whom the company has already
performed upgrade projects, all of which platforms upgraded by
Elbit are operational to the customers' satisfaction". Elbit
Systems is a world leader in aircraft and helicopter upgrade
programs. Electronic systems based on highly advanced technology,
fully developed by Elbit Systems, have been integrated on a broad
scale of veteran and new platforms, for both Israeli customers and
for customers worldwide. The integration of modern systems on new
and veteran aircraft enhance the pilot's survivability and
operational capabilities, thus placing the upgraded aircraft inline
with new aircraft standards, while saving costs. 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: 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, 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, E-mail: .
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