HAIFA, Israel, December 20, 2017 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that its subsidiary, Elbit Systems of America LLC ("ESA"), through its wholly-owned subsidiary M7 Aerospace LP ("M7 Aerospace"), was awarded a contract from DynCorp International Inc. to provide Life Cycle Contractor Support (LCCS) for the U.S. Army's C-26 and UC-35 aircraft fleet. The award is for a one-year base period of up to $25 million and additional five single year option periods. If all options are exercised, the total contract value will be up to $176 million. Services will be managed in San Antonio, Texas.
This contract reinforces ESA's U.S. market position as a leading provider of life-cycle support for aircraft and ground platforms. ESA offers a full range of reliable sustainment and support solutions. These include contractor logistics support (CLS) and engineering, maintenance, repair and overhaul (MRO) services. ESA has a 25-year history of providing support to U.S. military customers while M7 Aerospace consistently earns exceptionally high mission capable ratings on its CLS programs.
"ESA is a trusted, proven supplier of sustainment and support solutions for many U.S aircraft and land vehicles," said Raanan Horowitz, President and CEO of Elbit Systems of America. "We bring a commitment to listen and work closely with our customers and then deliver exceptional turn-key logistics solutions to support their missions."
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.
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SOURCE Elbit Systems