Elbit Systems Subsidiary in the U.S. Receives $7.5 Million Navy Contract to Modify Naval Test Pilot School C-26 Aircraft

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May 09, 2016, 03:00 ET

HAIFA, Israel, May 9, 2016 /PRNewswire/ --

Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that Elbit Systems of America's subsidiary, M7 Aerospace LLC ("M7"), was awarded a $7.5 million Firm, Fixed Price contract by the U.S. Navy to perform modifications on United States Naval Test Pilot School's ("USNTPS") C-26 aircraft. Upgrades will be completed by September 2016 in San Antonio, Texas.

Elbit Systems of America, the Type Certificate holder for the C-26, was selected to install an Intelligence, Surveillance and Reconnaissance (ISR) upgrade and a Finmeccanica, Vixen 500E AESA radar on the Navy's C-26 aircraft.

USNTPS trains experienced pilots, Naval Flight Officers (NFOs) and engineers to become qualified test pilots, test flight officers and flight test engineers that support test and evaluation programs. Graduates of the school must meet the test and evaluation requirements of the U.S. Navy and various other Research, Development, Test, and Evaluation (RDT&E) activities in all U. S. military services, other U.S. Government agencies, civilian industry and many other nations.

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, follow us on Twitter or visit our official Youtube Channel

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.

Contacts:

Company Contact:
Joseph Gaspar, Executive VP & CFO
Tel: +972-4-8316663
[email protected]
Dalia Rosen, VP, Head of Corporate Communications
Tel: +972-4-8316784
[email protected]
Elbit Systems Ltd.

IR Contact:
Ehud Helft
Kenny Green
GK Investor Relations
Tel: +1-646-201-9246
[email protected]