Elbit Systems' Subsidiary, the Elisra Group, Iinitiates a Re-Organization Plan
September 18 2006 - 11:22AM
PR Newswire (US)
HAIFA, Israel, September 18 /PRNewswire-FirstCall/ -- Elbit Systems
Ltd. (NASDAQ Global Select Market: ESLT) reported the initiation of
a re-organization plan by its 70%-owned Israeli subsidiary - the
Elisra Group. The plan, designed to enhance the synergies and
maximize the range of capabilities of the Elisra Group's members:
Elisra Electronic Systems Ltd., Tadiran Electronic Systems Ltd. and
Tadiran Spectralink Ltd., was announced today by Brig. Gen. (Res.)
Yitzhak Gat, CEO of the Elisra Group. Under the new re-organization
plan, the Elisra Group will establish a new central Operations
Division, which also will include Elisra's Microwave Division.
Colonel (Res.) Ami Dagan, formerly the general manager of Elbit
Systems' Silver Arrow, subsidiary, will head the new Operations
Division. The Operations Division will provide services to all the
Elisra Group's business units, with the aim of enhancing
operational efficiency and leveraging its size for procurement and
logistics advantages. Moreover, the re-structuring is expected to
increase marketing and R&D synergies among the Elisra Groups'
various business units, thus enhancing future growth and
profitability. Mr. Itzhak Beni will retire from his position as
President and CEO of Tadiran Spectralink and Tadiran Electronic
Systems and will be joining Elbit System's Group. About the Elisra
Group The Elisra Group comprises Elisra Electronic Systems Ltd.,
Tadiran Electronic Systems Ltd. and Tadiran Spectralink Ltd. The
Group designs, develops, manufactures, integrates and supports
advanced system solutions for air, sea and land, deployed in
numerous countries worldwide. The Elisra Group's major products
include: New Generation Integrated Self-Protection Suites including
Multi Spectral EW Payloads with Radar Warning Receivers, Laser
Warning System, Passive IR Missile Warning System and Chaff and
Flare Dispensing System for Fighters, Helicopters, Transport
Aircraft and MPA; SIGINT Systems with C4ISTAR, COMINT DF/
ELINT/ECM; Full C4I Solutions - for all Battlefield Command Chains
such as Battlefield Management and Control including Artillery C4I
Systems; Theater Missile Defense including Test Bed; Advanced
Search and Rescue Systems; and Data Links for UAVs & Guided
Munitions. The Elisra Group is a 70% subsidiary of Elbit Systems.
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 IR Contacts Ilan Pacholder,
Corporate Secretary Ehud Helft/Kenny Green and GK International VP
Finance & Capital Markets Elbit Systems Ltd. Tel:
+972-4-831-6632 Tel: +1-866-704-6710 Fax: +972-4-831-6659 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
COMPANY'S CONTROL, WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR
ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE
RESULTS, PERFORMANCE OR OTHER EXPECTATIONS IMPLIED BY THESE
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, @gk-biz.com
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