Elbit Systems' Brazilian Subsidiary, Aeroeletronica, Awarded a Framework Contract Valued at up to $260 Million to Supply 30mm Unmanned Turrets to the Brazilian Army

Elbit Systems' Unmanned Turrets, to be Produced in Brazil by Aeroeletronica, Will be Installed Onboard IVECO 6X6 Armored Personnel Carriers (APC) as a Part of the Guarani Project

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Elbit Systems Ltd

Jan 06, 2011, 02:57 ET

HAIFA, Israel, January 6, 2011 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ and TASE:ESLT) ("Elbit Systems") announced that its Brazilian subsidiary, Aeroeletronica Ltda. ("AEL") was awarded a framework contract, valued at up to 440 million Brazilian Reals (approximately $260 million) for the supply of UT30 BR 30 mm Unmanned Turrets to the Brazilian Army's Land Forces, as part of the Guarani Project.

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This award follows an award of a contract to Elbit Systems in 2009 to supply several Unmanned Turrets in an open tender in which leading global manufacturers took part.

The contract calls for Elbit Systems' UT30 BR to be installed onboard a few hundred of Iveco 6x6 APCs, according to a schedule and a multi-year funding profile to be defined by the parties.

Joseph Ackerman, President and CEO of Elbit Systems, commented: "We are honored to have been awarded this significant contract by the Brazilian Ministry of Defense/Brazilian Army, a highly valued customer. The award is a major milestone for AEL in our continuing process to enhance local Brazilian capabilities and technologies. Winning such a prestigious project attests to our leadership in the field of innovative land solutions, and we hope other customers will follow, both in Latin America and throughout the world."

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.

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    Joseph Gaspar, Executive VP & CFO            Ehud Helft
    Tel: +972-4-8316663                          Kenny Green
    [email protected]                    CCG Investor Relations
    Dalia Rosen, VP, Head of Corporate           Tel: 1-646-201-9246
    Communications
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    Tel: +972-4-8316784
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    Elbit Systems Ltd.

SOURCE Elbit Systems Ltd