HAIFA, Israel, August 7, 2018 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT) ("Elbit Systems" or "the Company") announced today that it was awarded an approximately $85 million contract from the Israeli Ministry of Defense (IMOD) to supply Electronic Warfare (EW) suites for the Israeli Navy Sa'ar 6-class corvettes that will be tasked with the protection of Israel's Economic Exclusion Zone. The contract will be performed over a 10-year period.
The EW systems to be supplied are combat proven and include digital receivers, signal processing technologies and analysis tools that are all of an open system architecture, thus enabling effective operational capabilities while maintaining flexibility to cope with both current and future threats. The latest configurations of those technologies were developed in close cooperation with the IMOD's Administration for the Development of Weapons and Technological Infrastructure and with the Israeli Navy, and have been recently declared operational after successfully completing intensive sea trials. This award follows previous Elbit Systems contract awards to equip all the Israeli Navy surface vessels with the Company's advanced EW technologies.
Edgar Maimon, Executive Vice President and General Manager of Elbit Systems EW and SIGINT - Elisra, commented: "We are proud to continue to be the EW house of the Israeli Navy and to have been awarded this contract to equip the new corvettes with the sophisticated EW capabilities necessary to perform a variety of complex missions while maintaining maximal level of force protection. The increasing demand for our EW solutions is a clear indication for the growing operational importance of advanced and combat proven EW capabilities in all domains of operational engagement - maritime, land and air."
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 Ltd.