HAIFA, Israel, May 24, 2011 /PRNewswire-FirstCall/ -- Elbit
Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced
today that it was awarded a contract valued at approximately
$18.6 million to upgrade the Romanian
Air Forces' C-130 transport aircraft. According to the agreement,
the C-130 aircraft will be installed with various types of advanced
electronic systems, including those produced by Elbit Systems'
wholly owned subsidiary - Elisra Electronic Systems Ltd.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 )
The project, to be performed over four years, will be executed
in cooperation with local companies in Romania, lead by the Romanian Aeronautical
Industry.
Yoram Shmuely, Co-General Manager
of Elbit Systems' Aerospace Division, commented: "We are very proud
of this award, which marks an additional milestone in the projects
Elbit Systems has performed for the Romanian Air Force in
collaboration with Romanian local industry. This new contract
attests to the trust and satisfaction we have gained, based on the
quality of the projects we have executed for the Romanian Air Force
in recent years". Shmuely added: "The global demand for transport
aircraft upgrades and the experience we have accumulated in
performing various similar projects, including for the Korean C-130
and the Brazilian C-95, position us as market leaders, and we hope
other similar projects will follow."
Elbit Systems has been operating in Romania for the past 15 years and executes
large scale projects, especially in avionics, in cooperation with
many defense industries in Romania, including IAR BRASOV, Avioane
Craiova, Aerostar and others. These programs have been performed
for the Romanian Ministry of Defense and for other customers in
Romania, as well as for customers
in other countries. Elbit Systems' activities in Romania are primarily carried out through its
wholly-owned Romanian subsidiaries, Elbit Systeme S.A., A-E
Electronics S.A, Elmet International SRL and Simultec SRL, which
employ approximately 400 employees.
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: IR Contact:
Joseph Gaspar, Executive VP & CFO Ehud Helft
Tel: +972-4-8316663 Kenny Green
j.gaspar@elbitsystems.com CCG Investor Relations
Tel: +1-646-201-9246
Dalia Rosen, VP, Head of Corporate elbitsystems@ccgisrael.com
Communications
Tel: +972-4-8316784
dalia.rosen@elbitsystems.com
Elbit Systems Ltd.
SOURCE Elbit Systems Ltd