HAIFA, Israel, December 19, 2012 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ and TASE:ESLT) ("Elbit Systems") announced today that it has been awarded a contract by the Israel Ministry of Defense ("IMOD") to upgrade the Israeli Air Force's ("IAF") C-130H (Hercules) transport aircraft. The contract value is in an amount that is not material to Elbit Systems.
The modernization project will extend the operational life of the aircraft and significantly improve its operational capability, particularly in precision flying, low-level night flight and operations in adverse weather. The modernization will contribute to improved flight safety and reduce operating costs, by introducing cutting-edge digital systems to replace obsolete analog systems that have become unreliable and costly to maintain after four decades of intensive service with the IAF.
Elbit Systems Aerospace Division's Co-General Manager, Yoram Shmuely, commented: "We are very pleased to perform this project. The proposed upgrade utilizes systems, subsystems and applications being deployed on the most advanced platforms and military and civil upgrade programs in order to meet current operational needs and enable integration of future operational and technology capabilities."
About Elbit Systems
Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of 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 ("UAS"), advanced electro-optics, electro-optic space systems, EW suites, airborne warning systems, ELINT systems, data links and military communications systems and radios. The Company also focuses on the upgrading of existing military platforms, developing new technologies for defense, homeland security and commercial aviation applications and providing a range of support services.
For additional information, visit: http://www.elbitsystems.com.
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.
Joseph Gaspar, Executive VP & CFO
Dalia Rosen, VP, Head of Corporate Communications
Elbit Systems Ltd.
CCG Investor Relations
SOURCE Elbit Systems Ltd