HAIFA, Israel, April 29, 2013 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that AEL International Ltd., a subsidiary of AEL Sistemas S.A., which is a Brazilian subsidiary of Elbit Systems, was awarded a contract to supply electro-optic observation systems to Savis Tecnologia e Sistemas S.A, a subsidiary of Embraer Defesa & Segurança S.A., wholly-owned by Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: BR3). The contract value is in an amount that is not material to Elbit Systems.
The electro-optic systems will be supplied within a year, starting in 2014, as part of the first phase of the Brazilian multi-year "Sisfron" Integrated Border Monitoring System.
In addition, as part of the program, Elbit Systems will be making investments in Brazil in terms of assets, infrastructure and know-how in optronics.
Mr. Bezhalel (Butzi) Machlis, Elbit Systems' President and CEO, commented: "We see great importance in this award, marking a breakthrough for our electro-optic activities in Brazil, which is a significant market for Elbit Systems. Sisfron is a global leading and very unique border security project, and we are very proud to be involved in it. This is yet an additional opportunity for our Brazilian companies to provide our advanced technologies, this time in the field of observation, in Brazil, a country that values unique, cutting edge technology in every field of operation."
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.
Joseph Gaspar, Executive VP & CFO
Dalia Rosen, VP, Head of Corporate Communications
Elbit Systems Ltd.
CCG Investor Relations
SOURCE Elbit Systems Ltd