Elbit Systems Awarded $53 Million Contract to Supply and Integrate Intelligence Suites to a Navy in Southeast Asia

Rhea-AI Summary

Elbit Systems Ltd. has been awarded a contract worth approximately $53 million over two years to provide intelligence suites for a Southeast Asian navy. The contract includes equipping vessels with advanced systems for reconnaissance, featuring a range of technologies such as AES-212 electronic intelligence systems, NATACS naval tactical communication intelligence, and various sonar systems. This deal reflects a rising demand for maritime solutions, according to Elad Aharonson, General Manager of Elbit Systems ISTAR Division.

Positive

• Contract worth $53 million for two years, enhancing revenue.
• Strengthens Elbit's position in maritime defense technology.
• Company's diverse portfolio meets growing demand in the sector.

Negative

• None.

 

/PRNewswire/ -- Elbit Systems Ltd.  

HAIFA, Israel, July 1, 2020 (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or "the Company") announced today that it was awarded a contract valued at approximately $53 million to provide and integrate intelligence suites onboard vessels of the Navy of a country in Southeast Asia. The contract will be performed over a two-year period.

Under the contract Elbit Systems will equip several vessels with suites that provide the capability to perform complex reconnaissance missions, generating an operational picture of the air, surface and underwater domains. Elbit Systems will supply and integrate comprehensive suites comprised of an array of systems from across the Company's maritime portfolio, including: AES-212 electronic intelligence systems, NATACS naval tactical communication intelligence systems and jamming capabilities, SPECTRO XR™ electro-optical payloads, M670 hull mounted sonars, TRAPS towed reel-able active/passive sonars, underwater communication systems and combat management systems.  The program also includes maritime radars and satellite communication capabilities. In addition, the Company will provide training services.  

Elad Aharonson, General Manager of Elbit Systems ISTAR Division, said: "There is growing demand for our maritime solutions. I believe that the unique combination of a diverse portfolio of operational systems and groundbreaking technological innovation enables us to effectively address the evolving needs of maritime forces."

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, cyber-based systems and munitions. 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: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.

Contacts:

Company Contact:          Joseph Gaspar, Executive VP & CFO Tel:  +972-4-8316663 j.gaspar@elbitsystems.com   Rami Myerson, Director, Investor Relations Tel: +972-77-2948984 rami.myerson@elbitsystems.com   David Vaaknin, VP, Brand & Corporate Communications Tel: +972-77-2946691 david.vaaknin@elbitsystems.com

IR Contact:    Ehud Helft Kenny Green GK Investor Relations Tel: 1-646-201-9246 elbitsystems@gkir.com

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. 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, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business.  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; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; 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. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. 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.

View original content:http://www.prnewswire.com/news-releases/elbit-systems-awarded-53-million-contract-to-supply-and-integrate-intelligence-suites-to-a-navy-in-southeast-asia-301086568.html

SOURCE Elbit Systems Ltd.