Elbit Systems to Establish Israeli MOD’s Communications Equipment Supply, Upgrade and Maintenance Project Valued at Approximately $280 Million
The IMOD and the IDF will benefit from rapid supply of highly advanced, operationally available and cost effective communication systems
A key part of the project will be performed in the Southern Israeli city of Arad, providing employment for dozens of local residents
Haifa, Israel, September 28, 2011 – Elbit Systems Ltd. (NASDAQ and TASE: ESLT) (“ESLT”) announced today that it was awarded a contract by the Israeli Ministry of Defense (IMOD) to supply, upgrade and provide maintenance under the Israeli Defense Forces’ (IDF) communications equipment project. The project is valued at approximately $280 million, of which approximately half is designated for the supply of new communication systems over the next five years, and the balance is to be applied to the upgrade and maintenance of existing systems over a twenty-year period.
The military communications project is an IMOD’s efficiency initiative, aimed at establishing a supply arrangement for advanced, operationally available and cost effective communication systems for the IDF.
Joseph Ackerman, President and CEO of Elbit Systems said: “The project we are establishing is a part of the IMOD’s initiative to outsource the revamping of the IDF’s communications inventory in order to make it more efficient. We intend to leverage our extensive operational experience and know-how in performing similar outsourcing projects for customers worldwide, in order to provide the IMOD and the IDF with the most high quality and cost-effective communications solution. A key part of the project will be performed in a development area, as part of the Israeli Government’s policy to develop industries in the periphery, providing employment for dozens of local residents.”
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: www.elbitsystems.com.
Contacts:
Company Contact:
Joseph Gaspar, Executive VP & CFO
Tel: +972-4-8316663
j.gaspar@elbitsystems.com
Dalia Rosen, VP, Head of Corporate Communications
Tel: +972-4-8316784
dalia.rosen@elbitsystems.com
Elbit Systems Ltd. IR Contact:
Ehud Helft
Kenny Green
CCG Investor Relations
Tel: 1-646-201-9246
e-mail: elbitsystems@ccgisrael.com
