Elbit Systems of America Subsidiary, M7 Aerospace, Awarded $50 Million Contract by BAE Systems to Provide Logistics Support under United States Navy Aircraft Training Program
FORT WORTH, Texas, March 5, 2013 /PRNewswire/ --
M7 Aerospace LLC, a wholly-owned subsidiary of Elbit Systems of America LLC, will be working with BAE Systems to provide Contract Logistics Support (CLS) for the T-34, T-44 and T-6 aircraft under a contract awarded to BAE Systems by the Naval Air Systems Command (NAVAIR). Under its NAVAIR contract, BAE Systems awarded M7 a subcontract of approximately $50 million to be performed over a five-year period.
"We are pleased to team with BAE Systems for this opportunity and to serve the United States Chief of Naval Air Training," commented Raanan Horowitz, President and CEO of Elbit Systems of America. "At Elbit Systems of America, our mission is to develop innovative solutions that protect and save our warfighters' lives. With this opportunity we are providing mission capable, safe-for-flight aircraft for our nation's warriors as they train for the future."
M7 Aerospace will provide CLS on the T-34 aircraft assigned to Satellite sites, T-34/44/6 Organizational and Intermediate level maintenance, Supply Chain Management and Engineering Services. The work will support training at Naval Air Station Corpus Christi in Texas, Naval Air Station Pensacola and Naval Air Station Whiting Field in Florida.
About Elbit Systems of America, LLC
Elbit Systems of America is a leading provider of high performance products and system solutions focusing on the commercial aviation, defense, homeland security, and medical instrumentation markets. With facilities throughout the United States, Elbit Systems of America is dedicated to supporting those who contribute daily to the safety and security of the United States. Elbit Systems of America, LLC is wholly owned by Elbit Systems Ltd. (NASDAQ and TASE: ESLT), a global electronics company engaged in a wide range of programs for innovative defense and commercial applications. For additional information, visit: http://www.elbitsystems-us.com.
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.
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Forward Looking Statement
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 of America