Elbit Systems to Supply Various Types of Laser Based Systems Valued at $50 Million to the Israeli Ministry of Defense and to North American Customers — Press Release

by: Matthew Potter
January 21, 2010

Category: Business Line, Companies, Countries, development program, Elbit Systems, Israel, IT, Press Releases | RSS 2.0

Elbit Systems to Supply Various Types of Laser Based Systems Valued at $50 Million to the Israeli Ministry of Defense and to North American Customers

HAIFA, Israel, January 21/PRNewswire/ — Elbit Systems Ltd. (NASDAQ: ESLT) announced today that it was awarded contracts in an aggregate amount of approximately $50 million to supply various types of laser based systems to the Israeli Ministry of Defense and to North American customers. The Israeli MoD will be supplied with laser systems, while in North America, Elbit Systems will supply two different customers with airborne laser systems. The orders were received by Elbit Systems Electro-Optics Elop Ltd. (Elop) and are to be delivered over the next two years.

Elop is a world leader in advanced laser technology, developing solutions based on diode-pumped lasers and fiber lasers, for applications such as laser designators, laser radars, and laser-based airborne defense systems. These technologies enable the implementation of high-quality, compact and lightweight laser systems for a wide range of applications.

Adi Dar, General Manager of Elbit Systems Electro-Optics Elop, commented: “We have been witnessing an increasing demand for advanced laser systems, mainly due to their ability to perform high precision identification and to prevent collateral damage”. Dar further noted, “In addition to laser systems designed for the use of Ground Forces, we have identified an increasing demand for airborne laser designators, a niche in which Elop has an extensive and robust portfolio of solutions”.

About Elbit Systems

Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defense-related 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 and developing new technologies for defense, homeland security and commercial aviation applications.

For additional information, please visit us at: 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.

Share this:
Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter

Tags: , , , , , , , , ,

| Give a Comment | trackback