HAIFA, Israel, Feb. 6, 2020 /PRNewswire/ -- Elbit Systems
Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit
Systems") announced today that it was awarded a $43 million contract from Hanwha Systems Co. Ltd.
(272210:Korea SE) to equip the Next
Generation Korean fighter jets
in development, with embedded Terrain Following-Terrain Avoidance
(TF/TA) systems. The contract will be performed over a six-year
period.
Embedding Elbit Systems' TF/TA solution enables fighter jets to
fly and maneuver safely at low-altitudes, in zero visibility and
harsh weather conditions (Instrument Meteorological Conditions),
thereby enhancing their capability to operate undetected in hostile
territory. Interfacing with the autopilot system, the TF/TA system
to be supplied fuses data from a range of onboard sensors and a
digital terrain elevation data base, together with flight
performance characteristics, enabling the aircraft to
maintain optimal altitude throughout the mission.
Yoram Shmuely, Executive Vice President
and General Manager of Elbit Systems Aerospace
Division, said: "We are proud to be in a position to
increase the capabilities of Air Forces through joint
development with Hanwha Systems Co. Ltd.".
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.