HAIFA, Israel ,
Jan. 7, 2020 /PRNewswire/ -- Elbit
Systems Ltd. (NASDAQ: ESLT) (TASE:
ESLT) ("Elbit Systems") announced today that it was
awarded an initial contract from the Production and Procurement
Directorate of the Israeli Ministry of Defense (IMOD) valued at
approximately $31 million
(NIS 109 million), to provide Iron
Fist Active Protection Systems (APS) for the Eitan Armored Fighting
Vehicles (AFV) of the Israeli Defense Forces (IDF). The contract
will be performed over a five-year period.
Under the contract Elbit Systems will equip the IDF's new
wheeled AFVs with the Iron Fist Light Decoupled (IFLD) systems. The
Iron Fist system uses optical sensors, tracking radar,
launchers and countermeasure munitions to defeat threats at a safe
distance. The Iron Fist system provides 360-degree protection
coverage for close-range scenarios in both open terrain and urban
environment. The systems' high-performance, versatility and
negligible residual penetration, as well as its low size and weight
and ease of integration, position the Iron Fist as an optimal
APS for any fighting vehicle.
Yehuda (Udi) Vered, Executive Vice President
and General Manager of Elbit Systems Land Division,
said: "We are proud to be in a position to provide the IDF with
such an important operational capability. This award adds to the
growing interest in the Iron Fist by many modern armed forces who
seek to enhance the protection capabilities of
their AFVs."
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: elbitsystems.com, follow us
on: Twitter, LinkedIn, Facebook 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
Rami Myerson, Director,
Investor Relations
Tel: +972-77-2946403
rami.myerson@elbitsystems.com
David Vaaknin, VP, Brand & 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.