Elbit Systems Awarded $55 Million Lockheed Martin Contract to Supply Electronic Warfare Equipment for Canadian Navy Frigate Upgrade Program
(NASDAQ:ESLT) announced today that its subsidiary, Elisra Electronic Systems
Ltd. (Elisra), was awarded a contract by Lockheed Martin Canada Ltd valued at
approximately
Canadian Navy’s Halifax Frigate Modernization program. Elisra’s systems were
selected after meeting the strict standards and challenges required by the
customer.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 )
Elisra CEO,
Lockheed Martin Canada to select Elisra over others in industry. Gat noted
that Elisra has had a longstanding relationship with Lockheed Martin Canada,
based on professional cooperation and trust, as well as the use of advanced
domestic technology. Gat further added that he expects that the introduction
of the new systems will bring about future contracts in the EW field
worldwide.
Elisra, 70% owned by Elbit Systems Ltd., and 30% by Elta Systems Ltd. (an
IAI subsidiary).
About Elbit Systems
Elbit Systems Ltd. is an international defense electronics company
engaged in a wide range of defense-related 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
air vehicle (UAV) systems, 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 and developing new technologies for
defense, homeland security and commercial aviation applications.
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
United States
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.
Company Contact:
Joseph Gaspar, Executive VP & CFO
Dalia Rosen, Head of Corporate Communications
Elbit Systems Ltd
Tel: +972-4-8316663
Fax: +972-4-8316944
E-mail: j.gaspr@elbitsystems.com
dalia.rosen@elbitsystems.com
IR Contact:
Ehud Helft / Kenny Green
G.K. Investor Relations
Tel: +1-646-201-9246
E-mail: info@gkir.com
SOURCE Elbit Systems Ltd