Elbit Systems Joint Venture With Rockwell Collins, VSI, Awarded New JHMCS Contracts Valued at More Than $80 Million
May 18 2006 - 6:50AM
PR Newswire (US)
HAIFA, Israel, May 18 /PRNewswire-FirstCall/ -- Elbit Systems
(NASDAQ: ESLT) announced today that Vision Systems International
LLC (VSI), its joint venture with Rockwell Collins, and a leader in
advanced Helmet Mounted Display (HMD) technology, has been awarded
several new contracts with a total value of more than $80 million.
The Boeing Company awarded VSI a contract for the delivery of more
than 400 additional Joint Helmet Mounted Cueing Systems (JHMCS).
VSI also received direct contracts from the United States Navy and
Air Force for spares and test equipment in support of the JHMCS
program. Under the production contract, VSI will provide JHMCS
hardware, including spares, technical support and support equipment
for the Full Rate Production - Lot 3 (FRP-3) acquisition. This
procurement fills U.S. government domestic requirements for the
USAF F-15 and F-16, ANG F-15, USN F/A-18E/F single seat and dual
seat platforms as well as foreign military sales production and
spares commitments including: Poland (F-16), Netherlands (F-16),
Turkey (F-16), Australia (F/A-18), Switzerland (F/A-18) and Canada
(F/A-18). Deliveries under FRP-3 will commence next year and
continue through 2008. Jim Wojtasek, VSI President, commented, "as
VSI celebrates its 10 year anniversary, our helmet mounted display
systems or enabling sub-systems are on every current US production
front- line fighter aircraft. The true test of a system is user -
in this case, fighter pilot - acceptance. We find ourselves in an
enviable position where fighter pilot demand has actually
accelerated production forcing us to increase capacity for JHMCS".
The JHMCS provides the pilot with "first look, first shot" high
off-boresight weapons engagement capabilities. The system enables
the pilot to accurately cue onboard weapons and sensors against
enemy aircraft and ground targets without the need to aggressively
turn the aircraft or place the target in the Head Up Display (HUD)
for designation. Critical information and symbology, such as
targeting cues and aircraft performance parameters, are graphically
displayed directly on the pilot's visor. Formed in 1996, VSI, is a
joint venture between EFW Inc., an Elbit Systems of America company
and a subsidiary of Elbit Systems Ltd. (ESLT), and Rockwell Collins
(NYSE:COL) to develop, manufacture and support fixed wing HMDs
worldwide. With a heritage of more than 35 years of design and
development experience in display systems, VSI today is the leading
supplier of fixed wing HMDs. In addition to the JHMCS, VSI is in
development of the advanced HMD for the F-35 (JSF), in development
of the QuadEye Night Vision Cueing & Display (NVCD) for the US
Navy, and in production on the DASH (Display and Sight Helmet)
Generation IV HMD under multiple contracts to Lockheed Martin.
About Elbit Systems Elbit Systems Ltd. is an international defense
electronics company engaged in a wide range of defense-related
programs throughout the world. The Elbit Systems Group, which
includes the company and its subsidiaries, operates in the areas of
aerospace, land and naval systems, command, control,
communications, computers, intelligence, surveillance and
reconnaissance ("C4ISR"), advanced electro-optic and space
technologies, EW suites, airborne warning systems, ELINT systems,
data links and military communications systems and equipment. The
Group also focuses on the upgrading of existing military platforms
and developing new technologies for defense and homeland security
applications. Contacts Company contact Ilan Pacholder, Corporate
Secretary and VP Finance & Capital Markets Elbit Systems Ltd.
Tel: +972-4-831-6632 Fax: +972-4-831-6659 IR Contacts Ehud
Helft/Kenny Green GK International Tel: +1-866-704-6710 Fax:
+972-3-607-4711 STATEMENTS IN THIS PRESS RELEASE WHICH ARE NOT
HISTORICAL DATA ARE FORWARD-LOOKING STATEMENTS WHICH INVOLVE KNOWN
AND UNKNOWN RISKS, UNCERTAINTIES OR OTHER FACTORS NOT UNDER THE
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ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE
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FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT
LIMITED TO, THOSE DETAILED IN THE COMPANY'S PERIODIC FILINGS WITH
THE SECURITIES AND EXCHANGE COMMISSION. DATASOURCE: Elbit Systems
Ltd. CONTACT: Contacts: Company contact: Ilan Pacholder, Corporate
Secretary and VP Finance & Capital Markets, Elbit Systems Ltd.,
Tel: +972-4-831-6632, Fax: +972-4-831-6659, ; IR Contacts, Ehud
Helft/Kenny Green, GK International, Tel: +1-866-704-6710, Fax:
+972-3-607-4711, ,
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