Elbit Systems' Subsidiary, Cyclone, Awarded a Contract by Boeing for Structural Components Valued at Approximately $19 Million
October 23 2006 - 6:53AM
PR Newswire (US)
HAIFA, Israel, October 23 /PRNewswire-FirstCall/ -- Elbit Systems
Ltd. (NASDAQ Global Market: ESLT) announced that its subsidiary
Cyclone Aviation Products Ltd. (Cyclone) was awarded a contract by
Boeing for structural components for Boeing's F-15 aircraft. The
contract is valued at approximately $19 million dollars and is
scheduled for delivery during 2008 and 2009. The contract calls for
the supply to Boeing of structural components including detachable
fuel tanks, pylons, horizontal stabilizers and gun access doors.
Yoram Shmuely, Co-General Manager Airborne and Helmet Systems at
Elbit Systems said: "We are proud to be selected by a major civil
and military aircraft manufacturer such as Boeing. This contract
win reflects the trust and recognition we have established among
major aviation manufacturers such as Boeing. We believe this
contract will pave the way for further business in this
fast-growing market characterized by advanced technologies and
innovative composite materials." About Cyclone Aviation Products
Ltd. Cyclone Aviation Products Ltd. is a wholly-owned subsidiary of
Elbit Systems Ltd. located in the area of Karmiel, Israel. With
approximately 400 employees, Cyclone's core business is
manufacturing and maintenance of aircraft structures as well as
engineering manufacture, repair and upgrade of aircraft, UAVs and
helicopters. Cyclone manufactures both metal and composite
structural parts for UAVs, military aircraft such as the F-15 and
F-16, and civil aircraft such as Boeing's 747, 767 and the new
"Dreamliner" 787. Cyclone also operates the Israel Air Force's
(IAF) aviation schools Grob G-120A (Snunit) aircraft and B-206
(Saifan) helicopters. Cyclone's customer base includes the IAF, the
U.S. Air Force as well as several major aviation companies, such as
Boeing, Lockheed Martin and Sikorsky. 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 VP Finance & Capital Markets Elbit Systems Ltd. GK
International 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: 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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