Elbit Systems Awarded Options and Risk Reduction Activities Under Extant Contract Valued at Approximately US$229 Million to Supply Additional Battle Management Systems to the Australian Defence Forces
HAIFA, Israel, Dec. 22, 2013 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that the Australian Department of Defence has exercised options for additional quantities under an extant contract via a contract change, and also engaged Elbit Systems to conduct a Risk Reduction Activity via a survey and quote under the terms of an extant contract. The total value of both activities is approximately US$229 million (excluding GST). The contract will be performed over a three-year period.
Elbit Systems is the prime contractor of the Australian Defence Forces' ("ADF") Battle Management Systems.
The project, to be performed primarily by Elbit Systems of Australia (ELSA), will support the Australian Army in achieving its digitisation objectives.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems commented: "Australia is a very important market for Elbit Systems, and we are proud to be awarded these follow-on orders." Machlis added: "Elbit Systems is a global leading supplier of tactical Battle Management Systems, which are in operational use in dozens of armed forces worldwide, and we take great satisfaction in this new Australian vote of confidence."
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.
For additional information, visit: www.elbitsystems.com
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.
SOURCE Elbit Systems Ltd.