HAIFA, Israel, October 16, 2013 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit
Systems") announced today that it was awarded a follow-on contract
to supply advanced Helmet Mounted Display (HMD) systems for the
Republic of Korea Army's SURION helicopter. The contract, which is
in an amount that is not material to Elbit Systems, will be
performed over a four-year period.
Elbit Systems will supply the HMD systems to Korea Aerospace
Industries Ltd. (KAI), the original manufacture of the SURION
helicopter. This contract award follows an initial contract that
was signed with KAI in 2009 as part of the Korean Helicopter
Program (KHP) and in which Elbit Systems and KAI completed and
demonstrated a successful integration of Elbit Systems' HMD on the
SURION.
Yoram Shmuely, General Manager of
Elbit Systems' Aerospace Division, said:
"We are pleased that the Korean Army, which is considered among
the world's most advanced and modern armies, decided to equip its
helicopters with additional HMD systems, testifying to the
customer's satisfaction with the systems' performance. We consider
the Republic of Korea a very important market, and we have recently
established a local company, Sharp Elbit Systems Aerospace, Inc.
("SESA"), a jointly-owned company with Sharp Aviation K Inc., to
focus on advanced military aircraft avionics. We are considering
involving SESA in the performance of this HMD project as well."
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 military and commercial 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
elbitsystems@ccgisrael.com
SOURCE Elbit Systems Ltd