Elbit Systems of America Receives U.S. Army Contract for Mortar Weapon Systems

FORT WORTH, Texas, November 23, 2016 /PRNewswire/ --

Elbit Systems of America announced today that it was awarded an Indefinite Delivery/Indefinite Quantity ("ID/IQ") contract for the production of 60mm, 81mm, and 120mm Mortar Weapon Systems, which include the following items: M224 60mm Legacy Mortar Weapon System; M252 81mm Legacy Mortar Weapon System; M224A1 60mm Lightweight (LW) Mortar Weapon System; the M252A1 81mm LW Mortar Weapon System (to include the M253A1 81mm LW Inconel cannon); the M121 120mm Carrier Mounted Mortar Weapon System, and the M120A1 120mm Towed Mortar Weapon System which includes the M326 120mm Mortar Stowage Kit. The ID/IQ contract will support the Army's Product Manager for Guided Precision Munitions and Mortar Systems for US and foreign allied delivery requirements, with a maximum value of approximately $103 million, will be completed in five years.

"We are extremely pleased to continue our partnership with the United States Army by supplying our warfighters with the mortar weapon systems that enhance their mission effectiveness and provide the necessary lethality and flexibility to address current and future threats," commented Raanan Horowitz, president and chief executive officer of Elbit Systems of America.

Elbit Systems of America established a Memorandum of Understanding (MOU) with the United States Army's Watervliet Arsenal (WVA), New York that will effectively employ WVA as a subcontractor to Elbit Systems of America on many mortar components.

"Working closely with Watervliet Arsenal, we established a unique partnership that capitalizes on the strengths of the U.S. Army and combines those strengths with our industry expertise to create an opportunity for organic manufacturing capabilities," commented Dr. Amela Wilson, Elbit Systems of America's vice president of Sensors and Fire Control Solutions.

Elbit Systems of America will turn the MOU into a public-private partnership in order to combine the best practices of industry with proven Army manufacturing expertise and to support the Program Executive Office Ammunition mission to strengthen the Army's organic manufacturing capabilities. This public-private partnership will enable the U.S. Government to retain an industrial manufacturing base vital for strategic responses, while employing the best practices of the civilian industry to organize supply chain activities, conduct vendor management, and risk management.  

The award of the Mortar Weapon Systems, solidifies Elbit Systems of America's position as a leading provider of mortar systems for the U.S. Army.

To learn more about FIRECON, visit http://www.elbitsystems-us.com.

About Elbit Systems of America, LLC  

Elbit Systems of America is a leading provider of high performance products, system solutions, and support services focusing on the defense, homeland security, commercial aviation and medical instrumentation markets.  With facilities throughout the United States, Elbit Systems of America is dedicated to supporting those who contribute daily to the safety and security of the United States.  Elbit Systems of America, LLC is wholly owned by Elbit Systems Ltd. (NASDAQ and TASE: ESLT), a global electronics company engaged in a wide range of programs for innovative defense and commercial applications. For additional information, visit: http://www.elbitsystems-us.com or follow us on Twitter.

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. 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: http://www.elbitsystems.com or follow us on Twitter.

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Elbit Systems of America and other trademarks, service marks and logos are registered or unregistered marks of Elbit Systems of America companies in the United States and in foreign countries.  Copyright © 2016 Elbit Systems of America.  All rights reserved.

Forward Looking Statement 

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.

Contact: Shari Clarkson, +1-682-286-2363, [email protected]

SOURCE Elbit Systems of America