Elbit Systems Awarded $35 Million Contract to Equip Montenegro's 4X4 Vehicles With Remote Control Weapon Stations

News provided by

Dec 16, 2019, 02:52 ET

HAIFA, Israel, Dec. 16, 2019 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or "the Company") announced today that following a contract signed between the Israeli Ministry of Defense and the Ministry of Defense of Montenegro, the Company was awarded a contract of approximately $35 million, to supply the Montenegrin Armed Forces with Remote Controlled Weapon Stations ("RCWS") for the new Oshkosh Defense ("Oshkosh") 4X4 Joint Light Tactical Vehicles ("JLTV"). In this contract Elbit Systems will perform full integration of the RCWS onboard the JLTV over a three-year period and will provide logistic support for a seven-year period.

Elbit Systems' 12.7mm RCWS is lightweight, low silhouette, dual axis and stabilized, and is mounted externally onboard armored vehicles. The RCWS offers accurate firing on-the-move and is operated via handles and Smart Displays by the gunner from within the vehicle, providing protection for the vehicle's crew who are safely located inside.

Yehuda (Udi) Vered, General Manager of Elbit Systems Land division, commented: "We are very proud to introduce our RCWS to Montenegro's Armed Forces. This award further expands our NATO customer base and strengthens our growing cooperation with Oshkosh. We are witnessing a growing demand worldwide for our RCWS, of which many hundreds are already operational onboard a range of land and naval platforms, and we trust that further customers will follow in acquiring our advanced and mature weapon stations."

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial 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, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: www.elbitsystems.com, follow us on Twitter or visit our official Youtube Channel.

Advisors

Jefferies LLC is acting as exclusive financial advisor to Elbit Systems of America and Covington & Burling LLP is serving as legal counsel for the acquisition. Morgan Stanley & Co. LLC is acting as financial advisor to Harris and Sullivan & Cromwell LLP is serving as legal counsel.

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.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

Company Contact:

Joseph Gaspar, Executive VP & CFO
Tel: +972-4-8316663
[email protected]

Rami Myerson, Director, Investor Relations
Tel: +972-77-2946403
[email protected]

David Vaaknin, VP, Head of Corporate Communications
Tel: +972-77-2946691
[email protected]

IR Contact:

Ehud Helft
Gavriel Frohwein
GK Investor Relations
Tel: 1-646-688-3559
[email protected]