HAIFA, Israel, March 27, 2019 /PRNewswire/ -- Elbit Systems
Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or
"the Company") announced today that it was awarded an approximately
$125 million (NIS 460 million) contract from the Israeli
Ministry of Defense ("IMOD") to supply fully automatic
self-propelled howitzer gun systems to the Israeli Defense Forces
("IDF"). The contract, which also includes the supply of training
simulators, will be performed over a 12-year period.
The IMOD and Elbit Systems intend that further part of the
automatic howitzer gun systems program, under an additional
contract to the Company in an amount that is expected to be
material, will be performed by various U.S. companies including
Elbit Systems of America, LLC, subject to completion of the receipt
of applicable governmental approvals for the U.S. content.
The new automatic howitzer gun system is based on know-how and
experience the Company accumulated over decades of supplying
artillery systems to numerous armed forces. The new howitzer gun
system is capable of automatic loading and laying. According to the
applicable mission, the new gun system automatically selects the
required projectile, propellant and fuze, loads them and lays the
gun to optimally engage targets. The new howitzer gun system will
enhance the effectiveness of the artillery formation of the IDF
while reducing the number soldiers in each platform and
significantly reduce life-cycle
costs.
Bezhalel (Butzi) Machlis, President and CEO of Elbit
Systems, commented: "We are proud to take part in
building the future artillery formation of the IDF. This contract
award is a vote of confidence in Israeli defense technology and an
acknowledgment of the international leadership of Elbit Systems in
the area of artillery systems. We believe that effective
integration of precision, rapidity and autonomy together with a
built-in connectivity to the communication and command &
control systems will become the required standard. We are
witnessing a growing need for advanced and reliable artillery
systems that enable powerful and efficient operation in all combat
configurations."
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, communications systems, radios,
cyber-based systems and munitions. 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: www.elbitsystems.com, follow
us on Twitter or visit our official Youtube Channel.
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
|
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SOURCE Elbit Systems Ltd