HAIFA, Israel, May 31, 2018 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ: ESLT) and (TASE: ESLT) ("Elbit
Systems") announced today that its wholly owned subsidiary in
Canada, GeoSpectrum Technologies
Inc. ("GTI"), was awarded a contract from STX Engine Co., to
deliver a full end-to-end Underwater Sound Source System (USSS) and
software package to the Republic of Korea ("ROK") Navy. The systems
will be supplied by the end of 2018. The contract is in an amount
that is not material to Elbit Systems.
This fully integrated, end-to-end system is based on GTI's Towed
Acoustic Target, which has already been delivered to other Defence
customers. It consists of an acoustic projector body, winch,
handling package and power amplifier and will be used to test sonar
systems for the ROK Navy's Harbor Underwater Surveillance
System.
Elad Aharonson,
Executive Vice President and General Manager of Elbit
Systems ISTAR Division, commented: "We are honored to
have been selected to supply high performance underwater sound
systems for the ROK Navy. Underwater acoustics equipment, including
sonars, acoustic communication and diverse acoustic components, is
part of Elbit Systems' extensive maritime portfolio. I expect more
and more customers to become aware of GTI's capabilities and
leverage them to fulfill their mission needs."
About Elbit Systems
Elbit Systems Ltd. is an international high technology company
engaged in a wide range of defense, homeland security and
commercial 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, advanced
electro-optics, electro-optic space systems, EW suites, signal
intelligence systems, data links and communications systems, radios
and cyber-based systems. The Company also focuses on the
upgrading of existing platforms, developing new technologies for
defense, homeland security and commercial applications and
providing a range of support services, including training and
simulation systems.
For additional information, visit: http://www.elbitsystems.com
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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.
Elbit Systems Ltd., its logo, brand, product, service and
process names appearing in this Press Release are the trademarks or
service marks of Elbit Systems Ltd. or its affiliated companies.
All other brand, product, service and process names appearing are
the trademarks of their respective holders. Reference to or
use of a product, service or process other than those of Elbit
Systems Ltd. does not imply recommendation, approval, affiliation
or sponsorship of that product, service or process by Elbit Systems
Ltd. Nothing contained herein shall be construed as conferring by
implication, estoppel or otherwise any license or right under any
patent, copyright, trademark or other intellectual property right
of Elbit Systems Ltd. or any third party, except as expressly
granted herein.
Contacts:
Company Contact:
Joseph Gaspar, Executive
VP & CFO
Tel: +972-4-8316663
j.gaspar@elbitsystems.com
David Vaaknin, VP, Head of Corporate
Communications
Tel: +972-77-2946691
David.Vaaknin@elbitsystems.com
IR Contact:
Ehud Helft
Gavriel Frohwein
GK Investor Relations
Tel: +1-646-688-3559
elbitsystems@gkir.com
SOURCE Elbit Systems Ltd.