HAIFA, Israel, June 24, 2012 /PRNewswire/ -- Elbit
Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems")
announced today that it was awarded a contract valued at
$62 million to upgrade the Korean Air
Force C-130 transport aircraft. Under the contract, the C-130
aircraft will be installed with various types of advanced
electronic systems. In addition, Elbit Systems will convert the
existing analog cockpit to a "Glass-Cockpit" using Elbit Systems'
cutting-edge digital flight displays.
The project, to be performed over four years, will be executed
in cooperation with Korea Aerospace Industries Ltd. (KAI),
who is the leading local aircraft manufacturer in Korea.
Yoram Shmuely, Co-General Manager
of Elbit Systems' Aerospace Division commented: "We are very proud
of this award. It marks an additional milestone in the projects
Elbit Systems has performed for the Korean Air Force in
collaboration with Korea Aerospace Industries. This new contract is
expected to further enhance capabilities of the Korean Air Force."
Shmuely added: "The global demand for transport aircraft upgrades
and the experience we have accumulated in performing various
similar projects such as the previous program for the Korean C-130,
as well as programs for the Romanian C-130 and the Brazilian C-95,
position us as favorably for similar projects to follow."
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: www.elbitsystems.com.
Contacts:
Company
Contact:
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IR
Contact:
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Joseph Gaspar,
Executive VP & CFO
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Ehud
Helft
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Tel:
+972-4-8316663
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Kenny
Green
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j.gaspar@elbitsystems.com
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CCG Investor
Relations
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Dalia Rosen, VP,
Head of Corporate Communications
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Tel:
1-646-201-9246
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Tel:
+972-4-8316784
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elbitsystems@ccgisrael.com
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dalia.rosen@elbitsystems.com
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Elbit Systems
Ltd.
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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.
SOURCE Elbit Systems Ltd.