HAIFA, Israel, January 17, 2017 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that it was awarded a contract to supply ground breaking, multi spectral BrightNite systems to an air force in a NATO country. The contract, in an amount of approximately $17 million, will be performed over a thirty-month period.
Low-flying helicopters are especially vulnerable to threats such as difficult terrain, enemy fire and obstacles in the flight path. Sorties must be performed both day and night and often carried out in DVE conditions, adding to the already heavy workload. Prior to BrightNite, flight crews have had to rely on night vision goggles (which have limited capabilities) to accomplish their mission. Factors like complete darkness, poor weather conditions, brownouts, whiteouts and sandstorms limit the pilots' Field of View (FOV). Lightweight, compact and cost-effective, BrightNite delivers a crystal clear visual of the landscape, flight data and especially the mission data, directly to both eyes of the pilot, enabling intuitive flight in a head-up, eyes-out orientation in pitch dark and other DVE and low visibility landing conditions.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems commented, "We are proud to have won this contract which enables helicopter pilots to gain highly advanced operational capabilities by flying in more than 90% of the nights and in adverse weather conditions. The BrightNite revolutionary solution is suitable for a variety of missions such as Special Forces and search and rescue. Given the important role helicopters are playing in the modern battlefield and the necessity of operating at night, we hope other customers will follow this selection by a NATO country's air force."
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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Joseph Gaspar, Executive VP & CFO
Dalia Rosen, VP, Head of Corporate Communications
Elbit Systems Ltd.
GK Investor Relations
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.
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SOURCE Elbit Systems Ltd