Elbit Systems U.S. Subsidiary Awarded Contract From Boeing to Develop New Head Up Displays for the U.S. Air Force's C-17

Mar 09, 2011, 05:18 ET from Elbit Systems Ltd

HAIFA, Israel, March 9, 2011 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) announced today that its wholly-owned U.S. subsidiary, Elbit Systems of America, LLC, was awarded a contract from The Boeing Company for the development of the C-17 Replacement Head Up Display ("RHUD") for the United States Air Force. The contract, which is not in an amount that is material to Elbit Systems, also contains options for Recurring Production and Repairs.

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The C-17 provides rapid strategic delivery of troops and cargo to main operating bases as well as tactical airlift and airdrop operations within a theatre of operations. The collective efforts of Boeing and Elbit Systems of America will provide the United States Air Force with a new C-17 RHUD that will enhance the ability of the aircraft to fulfill the United States' worldwide air mobility requirements.

Elbit Systems of America, President and CEO, Raanan Horowitz added: "We are proud to have been selected to perform this project, incorporating leading HUD technology into the world's most advanced airlift aircraft. The selection by Boeing is a testimony to our proven leading technology and to the dedication of Elbit Systems of America to supporting those who contribute daily to the safety and security of the United States."

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
    j.gaspar@elbitsystems.com

    Dalia Rosen, VP, Head of Corporate Communications
    Tel: +972-4-8316784
    dalia.rosen@elbitsystems.com
    Elbit Systems Ltd.

    IR Contact:
    Ehud Helft
    Kenny Green
    CCG Investor Relations
    Tel: +1-646-201-9246
    elbitsystems@ccgisrael.com

SOURCE Elbit Systems Ltd