HAIFA, Israel, April 11, 2019 /PRNewswire/ -- Elbit
Systems Ltd. (NASDAQ: ESLT) (TASE:
ESLT) ("Elbit Systems" or "the Company") announced today that
it was awarded an approximately $30
million contract to supply STYLET, a precise Guided Mortar
Munition (GMM) to a country in Asia-Pacific. The contract will be performed
over a two-year period.
With a range of 1000-8500m, STYLET
is a multi-mode GPS/INS guided 120mm GMM that is designed for
tactical combat units and Special-Forces. STYLET's high accuracy of
less than 10 meters Circular Error Probable (CEP) provides ground
forces with an affordable precise solution that is easy and quick
to operate, increasing their operational effectiveness while
sharply reducing collateral damage.
Yehuda (Udi) Vered, General
Manager of Elbit Systems Land, commented, "We are proud
of the introduction of this new round into our portfolio of precise
Guided Mortar Munitions. We see a growing demand for high-precision
guided munitions that are also economically efficient. This
contract award underscores the Company's significantly improved
positioning in the ordnance area in general, and in the area of
precise guided munitions in particular, following the acquisition
of IMI Systems."
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 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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content:http://www.prnewswire.com/news-releases/elbit-systems-awarded-30-million-contract-to-provide-high-precision-guided-mortar-munitions-to-an-asia-pacific-country-300830572.html
SOURCE Elbit Systems Ltd.