Elbit Systems Completes Acquisition of Shiron Satellite Communications for $16 Million
February 24 2009 - 5:00AM
PR Newswire (US)
HAIFA, Israel, February 24 /PRNewswire-FirstCall/ -- Elbit Systems
Ltd. (NASDAQ:ESLT) announced, further to its announcement on
January 8, 2008, that its wholly-owned Israeli subsidiary, Elbit
Systems Land and C4I-Tadiran Ltd. ("ESLC-T") acquired all of the
shares of Shiron Satellite Communications (1996) Ltd. ("Shiron"), a
privately-owned Israeli company, for a purchase price of $16
million. (Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441
) Shiron is engaged in the broadband communication market. Its
solutions are suited for the growing interactive multimedia
broadband satellite market. Shiron's InterSKY(TM) satellite
communications system provides broadband satellite services to
remote locations Shiron's technology, well proven in the commercial
market, is anticipated to be synergetic to the communication
technology developed and implemented in ESLC-T's military systems
and products. 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: 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. 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: 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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