HAIFA, Israel, April 13, 2011 /PRNewswire-FirstCall/ -- Elbit
Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced
today that its Brazilian subsidiary, AEL Sistemas S.A ("AEL")
signed a strategic agreement with Embraer Defesa e Seguranca S.A.,
a subsidiary of Embraer S.A (NYSE: ERJ; BM&FBOVESPA: BR3)
("Embraer"), during the Latin American Aerospace & Defense
(LAAD) Exhibition 2011. The agreement envisages the evaluation of
joint exploration of unmanned aircraft systems (UAS), including the
anticipated creation of a jointly owned company with majority
participation of Embraer Defesa e Seguranca to work in the
segment.
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Luiz Carlos Aguiar, President of
Embraer Defesa e Seguranca stated: " UAS are a reality and a need
for solutions on defense and security, and Embraer Defesa e
Seguranca considers that this agreement intends to strengthen both
companies' ability to offer solutions with an excellent
cost-benefit ratio for the Brazilian Government." Aguiar added: "In
addition, these vehicles allow for dual-use for monitoring of
ports, agricultural, forest, and coastal areas, traffic, etc".
Shlomo Erez, Director General of
AEL, commented: "This strategic agreement with Embraer marks a
significant milestone for AEL, towards the realization of our goal
regarding the development of UAS competencies in Brazil. This cooperation with Embraer will
leverage new business opportunities and enhance Brazilian know-how
in the development and manufacture of unmanned systems, offering
latest generation technology in order to meet the specific demands
and needs of our country". Erez added: "The agreement foresees the
evaluation of joint activities in marketing, development, systems
integration, manufacturing and support of UAS, as well as in
simulators and activities for the modernization of avionics
systems, and the anticipated participation of Embraer Defesa e
Seguranca in the capital of AEL".
Embraer and AEL have a successful track record of cooperative
relationships. AEL was one of the first suppliers of systems for
the turboprop Tucano basic trainer and the subsonic fighter AMX,
aircraft manufactured by Embraer in the 1980s and 1990s. Currently,
AEL provides the avionics for the turboprop light attack and
advanced training Super Tucano, as well as the avionics of the F-5M
fighter, modernized by Embraer for the Brazilian Air Force
(FAB).
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