HAIFA, Israel, Jan. 4, 2015 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that it was awarded an approximately $90 million contract from the Israeli Ministry of Defense (IMOD) for the maintenance of the Israeli Air Force's (IAF) F-16 array's avionics systems. The project, to be performed over 11 years, will include the establishment of a new and cutting edge national maintenance center for the IAF's squadrons and bases.
Elbit Systems has extensive operational experience in performing outsourcing logistic support services for customers both in Israel and abroad. In addition to a variety of maintenance projects it provides to the Israeli Defense Forces (IDF), Elbit Systems also provides these services to many customers worldwide, including in the U.S. and Brazil.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, noted: "Elbit Systems has recognized the growing global trend of maintenance and logistic support services performed via outsourcing. This method of service provides availability of the relevant systems while saving costs and we have been active in these types of services both in Israel and around the world. We are proud of this new outsourcing services contract, attesting to the satisfaction of the IMOD and the IAF with the services we have previously provided in other maintenance projects".
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, signal intelligence ("SIGINT") systems, data links and 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, including training and simulation systems.
Joseph Gaspar, Executive VP & CFO
Dalia Rosen, VP, Head of Corporate Communications
Elbit Systems Ltd.
CCG Investor Relations
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.