HAIFA, Israel, April 6, 2011 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that it was awarded a contract to supply self-propelled artillery and accompanying systems to an African country. The contract, valued at approximately $24 million, will be performed over the next two years. This is the first contract announcement regarding Soltam Systems Ltd. ("Soltam") since its recent acquisition by Elbit Systems.
The contract calls for the supply of a complete solution, including Soltam's ATMOS self-propelled artillery, command stations, observation and target acquisition systems, as well as fire control and command and control systems. In addition, Elbit Systems will manage the training and maintenance during the project's duration.
Bezalel Machlis, Elbit Systems' Executive Vice President and General Manager - Land and C4I Division, commented: "This new contract highlights the high synergetic value within our various land activities, allowing us to provide our customers with complete unique solutions, from artillery platforms, to target acquisition systems, through to advanced command and control solutions that connect all of the systems." Machlis added: "Our integrative solution, combining Soltam's artillery systems and our range of advanced electronic capabilities, provides a cutting-edge operational solution suitable for the growing trend of a transition to wheeled mobile platforms for artillery."
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.
Contacts: Company Contact: Joseph Gaspar, Executive VP & CFO Tel: +972-4-8316663 [email protected] Dalia Rosen, VP, Head of Corporate Communications Tel: +972-4-8316784 [email protected] Elbit Systems Ltd. IR Contact: Ehud Helft Kenny Green CCG Investor Relations Tel: +1-646-201-9246 e-mail: [email protected]
SOURCE Elbit Systems Ltd