Elbit Systems Brazilian Subsidiary, AEL and Embraer Defesa e
Segurança, Sign Agreement for the Entrance of the Brazilian Company
Avibras to Harpia
HAIFA, Israel, February 6, 2013 /PRNewswire/ --
The companies will
jointly pursue UAS projects in Brazil
Avibras' Falcão
UAS project will be included in Harpia's portfolio
Elbit Systems Ltd. (NASDAQ and TASE: ESLT)
("Elbit Systems") announced today that its subsidiary in
Brazil, AEL Sistemas S.A. ("AEL"),
and Embraer Defesa e Segurança S.A. ("Embraer Defesa") have
signed an agreement for the entrance of Avibras Divisão Aérea
e Naval S.A. ("Avibras") as a shareholder of Harpia Sistemas S.A.
("Harpia"), envisaging joint collaboration on Unmanned Aircraft
Systems ("UAS") in Brazil.
According to the agreement, Avibras will hold a 9% stake of the
shareholdings in Harpia, resulting in AEL owning 40% of Harpia's
shares, with Embraer Defesa remaining as the major shareholder,
with 51% of the shares.
The agreement signed among the three companies establishes that
Avibras' Falcão UAS project will be included in Harpia's portfolio,
reinforcing the national content of the partnership. Falcão is
being developed by Avibras for the use of the Brazilian Armed
Forces and is intended to carry out reconnaissance missions, target
acquisition, support for firing direction, damages evaluation and
land and sea surveillance.
"The entrance of Avibras increases the national participation in
Harpia which now complies with all requirements to be a Strategic
Defense Company," said Luiz Carlos
Aguiar, President of Embraer Defesa and Harpia Chairman of
the Board. "In addition, Harpia will be enhanced by the technical
competence of Avibras."
"The synergy of technical and industrial expertise of the three
Harpia partners in addition to the legacy of high technological
content of the Falcão UAS project, will result in a solution of an
UAS of high competitiveness in Brazil and abroad," said Sami Hassuani,
President of Avibras.
"Avibras brings to Harpia the best of the know-how that has been
developed autonomously in Brazil
for UAS to date, making Harpia, that already benefits from the
extensive capabilities of Embraer Defesa and AEL, a company with
all necessary elements for the success of the development in
Brazil of latest generation UAS to
meet the needs of our country," said Shlomo
Erez, Director General of AEL.
About AEL
AEL Sistemas S.A. (http://www.ael.com.br) is a Brazilian company
with headquarters in Porto Alegre.
For more than two decades it has been engaged in the design,
development, manufacturing, maintenance and logistic support of
military and civilian electronic products, for applications for
air, sea and land vehicles, manned and unmanned. In 2001, AEL
Sistemas became a subsidiary of Elbit Systems Ltd., the largest
non-government-owned defense company in Israel, and in 2011 Embraer Defesa and
Security acquired a 25% interest in AEL.
About Embraer Defesa
With more than 40 years of experience in the supply of platforms
and superior systems to the Armed Forces of the entire world,
Embraer Defesa e Segurança S.A has growing presence in the global
market and plays a strategic role in the Brazilian defense system.
Embraer´s Defesa portfolio includes military aircraft, last radar
generation technologies, unmanned air vehicles (UAV) and advanced
information and communication systems such as the applications of
Command, Control, Communication, Intelligence, Surveillance and
Reconnaissance (C4ISR). Embraer´s aircraft and military solutions
are present in more than 50 Armed Forces of 48 countries.
About Avibras
Founded in 1961, Avibras Divisão Aérea e Naval S.A is a
100% national company, specialized in engineering, which designs,
develops and manufactures products for the military and civilian
markets. Its ample defense portfolio includes artillery rocket
systems, autonomous and guided missiles, anti-aircraft systems,
weapon systems for aircraft, military armored vehicles, remotely
piloted aircraft, command and control vehicles and complex systems
integration.
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