HAIFA, Israel, December 22, 2015 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems"), announced today that it was awarded a contract from an Asia-Pacific country to supply a comprehensive airborne solution for use in intelligence, surveillance, target acquisition and reconnaissance (ISTAR) missions. The contract, valued at approximately $50 million, will be performed over a three-year period by Elbit Systems' ISTAR Division, which will be the prime contractor for this program.
The full scale solution will further develop the customer's existing intelligence and surveillance capabilities, by upgrading Elbit Systems' already-deployed, long-range electro-optical (EO) cameras and sensors, and supplementing them with ELTA Systems Ltd.'s, subsidiary and division of IAI, advanced SAR/GMTI Reconnaissance systems. In addition, the solution will provide the ability to perform advanced functions such as mission planning, battlefield management, terrain analysis and simulation modeling, both before and during intelligence-gathering operations.
"We are proud of this contract award that attests to our ability to deliver world leading solutions which meet current and future intelligence needs," commented Elbit Systems' President and CEO Bezhalel (Butzi) Machlis. "By combining multiple sensors, advanced C4I and intelligence analysis systems, all into one integrated solution, we enable customers to carry out more effective and flexible ISTAR operations. There is a growing demand for this sort of solution, and we hope that this project, which marks a significant milestone for us, will lead to more orders from new and existing customers in the near future".
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. 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.
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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.
Joseph Gaspar, Executive VP & CFO
Dalia Rosen, VP, Head of Corporate Communications
Elbit Systems Ltd.
GK Investor Relations
SOURCE Elbit Systems Ltd