HAIFA, Israel, April 11, 2011 /PRNewswire-FirstCall/ -- Elbit
Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced
today that its Brazilian subsidiary, AEL Sistemas S.A ("AEL") was
awarded a follow-on contract from a subsidiary of Embraer S.A.
("Embraer Defense and Security") for the upgrade of eleven F-5
aircraft. AEL is the main subcontractor to Embraer Defense and
Security, the prime contractor for the project. The contract is
valued at $85 million, to be
performed through 2013.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 )
The upgrade contract, which is a follow-on to contracts awarded
in 2001 and 2007, will include engineering services and the
delivery of all system equipment, including the mission computer,
display systems, radar, EW system, ammunition management system and
other avionics products. In addition, as part of the contract, AEL
will supply a flight simulator, spares and ground support
equipment.
Joseph Ackerman, President and
CEO of Elbit Systems, commented: "We are proud of AEL's selection
to perform this follow-on project, which underscores AEL's ability
to provide both Embraer and the Brazilian Air Force with advanced
in-country engineering, development, manufacturing and logistics
support. Through significant investments and on-going joint
programs, AEL has become a center of excellence for avionics and
the follow-on award attests to the customer's satisfaction with our
performance track record." Ackerman added: "We trust that the new
contract will further strengthen the excellent cooperation between
AEL, Embraer and the Brazilian Air Force, and we hope that other
customers will decide to follow Brazil and select our combat-proven upgrade
programs."
About Elbit Systems
Elbit Systems Ltd. is an international defense electronics
company engaged in a wide range of 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,
developing new technologies for defense, homeland security and
commercial aviation applications and providing a range of support
services.
For additional information, visit:
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
Tel: +972-4-8316663
j.gaspar@elbitsystems.com
Dalia Rosen, VP, Head of Corporate Communications
Tel: +972-4-8316784
dalia.rosen@elbitsystems.com
Elbit Systems Ltd.
IR Contact:
Ehud Helft
Kenny Green
CCG Investor Relations
Tel: +1-646-201-9246
e-mail: elbitsystems@ccgisrael.com
SOURCE Elbit Systems Ltd