Elbit Systems Awarded Asian Tank Upgrade Contract Valued at Approximately $56 Million — Press Release

by: Matthew Potter
October 4, 2010

Category: Business Line, Companies, Countries, Elbit Systems, Events, Israel, Press Releases | RSS 2.0

Elbit Systems Awarded Asian Tank Upgrade Contract Valued at Approximately $56 Million

HAIFA, Israel, October 3, 2010/PRNewswire-FirstCall/ — Elbit Systems Ltd. (NASDAQ and TASE: ESLT) announced today that it was awarded an approximately $56 million tank upgrade contract from a customer in Asia.

Under the contract, the tank upgrade project will include the installation of advanced battle management systems, as well as cutting edge observation and surveillance systems. The project will be completed within two years.

Joseph Ackerman, Elbit Systems’ President and CEO, noted: “Our selection for this upgrade project, following previous projects we have carried out for this customer, attests to the high level of satisfaction with our systems and performance.” Ackerman added that both Elbit Systems subsidiaries Elbit Systems Land & C4I – Tadiran and Elbit Systems Electro-optics – Elop will take part in the project, and the successful synergy among Elbit Systems’ different units enables the Company to offer its customers cutting edge, end-to-end solutions.

About Elbit Systems

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

For additional information, visit: 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