Elbit Systems U.S. Subsidiary Awarded $17.5 Million Order for Apache Longbow Mission Processor Redesign and Upgrade
HAIFA, Israel, Oct. 21, 2012 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems"), announced today that Elbit Systems of America, LLC ("Elbit Systems of America"), a wholly-owned subsidiary of Elbit Systems has been awarded a $17.5 million contract by The Boeing Company ("Boeing") to redesign and upgrade the Apache Block III AH-64D Mission Processor over a five-year period.
The Mission Processor will provide the Apache Block III avionics and mission equipment with the ability to perform sophisticated "networking" and on-board computing tasks and will allow the Apache Block III aircraft to more easily accommodate emerging capabilities.
Commenting on the award, Elbit Systems of America President and CEO, Raanan Horowitz , said: "The Elbit Systems of America Mission Processor lies at the heart of the Apache Block III Attack Helicopter and provides Boeing and its U.S. Army customer unparalleled computing power and capabilities. The refresh and upgrade program will ensure that the Apache takes advantage of the latest processing technology available. We are pleased to be a part of this important program and look forward to working closely with both Boeing and the U.S. Army to provide continued technological dominance to the warfighter."
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: 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.
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