Elbit Systems Will Supply the Israeli Ministry of Defense and a European Army With Lightweight Weapon Stations Under Contracts for Approximately $21 Million

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Dec 07, 2011, 03:07 ET

HAIFA, Israel, December 7, 2011 /PRNewswire/ --

Elbit Systems Ltd. (NASDAQ and TASE:ESLT) ("Elbit Systems") announced today that it was awarded contracts to supply Lightweight Weapons Stations (LWS) to the Israel Ministry of Defense (IMOD) and to a European Army.

In Israel, Elbit Systems was awarded a contract valued at approximately $11 million, for development and initial procurement, as part of an upgrade process of the Israel Defense Forces' (IDF) lightweight weapons arsenal. The 7.62mm, 12.7mm and 40mm LWS are designed to be installed onboard Armored Personnel Carriers (APCs) and Armored Fighting Vehicles (AFVs) and are to be supplied over an 18-month period.

Elbit Systems was also awarded a contract, valued at approximately $10 million, to supply a European Army with 12.7mm LWS. The stations are to be installed onboard Pandur 6x6 vehicles and will be supplied over a period of one year.

Bezhalel (Butzi) Machlis,-General Manager- Elbit Systems Land and C4I Division, commented: "We are very proud of our selection to provide LWS to these two customers, reinforcing our position as global leading supplier of diverse types of weapon stations. Our solutions for full scale as well as low intensity conflicts, and our vast experience, enable us to provide customers with cutting edge solutions for all kinds of combat vehicle needs, and we hope other customers will follow."

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.

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
    CCG Investor Relations
    Tel: 1-646-201-9246
    [email protected]