Elbit Systems Awarded $20 Million Follow-On Contract for Israeli Air Force's PFI "Snunit" Trainer Aircraft Operation Program
February 22 2010 - 3:33AM
PR Newswire (US)
HAIFA, Israel, February 22, 2010 /PRNewswire-FirstCall/ -- Elbit
Systems Ltd. (NASDAQ:ESLT) announced today that it was awarded a
follow-on contract from the Israeli Ministry of Defense for the
continuation of the GROB G-120-AI ("Snunit") trainer aircraft
operation program, in service at the Air Force Flight Academy in
Hatzerim. Under the new contract, Elbit Systems will operate the
trainers for an additional period of ten years, starting in 2012,
following the completion of the current program.The contract is
valued at approximately $20 million. (Logo:
http://www.newscom.com/cgi-bin/prnh/20080408/300441 ) The "Snunit"
program was the IAF's first Private Finance Initiative (PFI)
project. Under the multi-year program, the IAF purchases training
hours onboard Elbit Systems' GROB G-120-AI, and Elbit Systems is
responsible for the operation and maintenance of the aircraft,
which is performed by a dedicated technical crew Elbit Systems
employs in Southern Israel. Yoram Shmuely, Co-General Manager of
Elbit Systems' Aerospace Division, noted: "The IAF's decision to
renew the contract for the "Snunit" program attests to the Air
Force's high level of satisfaction with the service, availability,
usability and security achieved throughout the program to date, as
well as from Elbit Systems' similar projects in the Flight Academy
at the Hatzerim air force base". 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 aircraft
systems ("UAS"), 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. For additional information,
please visit us at: http://www.elbitsystems.com/. 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 CCG
Investor Relations +1-646-201-9246
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,
CCG Investor Relations, +1-646-201-9246,
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