Haifa, Israel, February 2, 2006 - Elbit Systems Ltd. (NASDAQ:ESLT)
reported today that it was selected to supply various systems for the
Belgian Armored Infantry Vehicle Program.
The anticipated contract value for Elbit Systems’ portion of the
Program is expected to be in an amount material to Elbit Systems,
with deliveries to take place between 2007 - 2012.
This Program is related to a co-operation between Elbit Systems and
the Swiss company Mowag, a part of the General Dynamics
European Land Combat Systems Group. Mowag was selected by
the Belgian Government to be the prime contractor for the supply of
the Piranha III vehicles for the Program. The Program currently
covers 138 vehicles out of a potential total of 242 vehicles.
Elbit Systems' portion of the Program includes the delivery of 30 mm
unmanned turrets and various opto-electronic and electronic subsystems.
Finalization of the contract to Elbit Systems is expected
within the coming weeks.
Joseph Ackerman, President and CEO of Elbit Systems said: “We are
proud to be selected to take part in this important project for the
Belgian Army. The co-operation between Mowag and Elbit Systems
reflects the level of recognition we have achieved with our customers,
end users and business partners worldwide. The selection of our
unmanned turrets constitutes a breakthrough in an emerging
international market emanating from a shift in the modern battlefield.
These systems implement the Elbit Systems Group's integrative and
comprehensive abilities as well as our understanding of the modern
Mr. Ackerman added, “We hope that Mowag’s selection of our
solution for a major NATO member such as Belgium will serve as a
case in point for other potential customers in Europe and across the
About Elbit Systems
Elbit Systems Ltd. is an international defense electronics company
engaged in a wide range of defense-related programs throughout the
world, in the areas of aerospace, land and naval systems, command,
control, communications, computers, intelligence, surveillance and
reconnaissance ("C4ISR"), advanced electro-optic and space
technologies. The company focuses on the upgrading of existing
military platforms and developing new technologies for defense and
homeland security applications.
Ilan Pacholder, Corporate Secretary and
VP Finance & Capital Markets
Elbit Systems Ltd.
Tel: 972-4 831-6632
Fax: 972-4 831- 6659
Ehud Helft/Kenny Green
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