Elbit Systems Awarded $69 Million Contract to Provide EW Systems to a Country in Asia-Pacific

Rhea-AI Summary

Elbit Systems Ltd (NASDAQ:ESLT) has secured a $69 million contract for Electronic Warfare (EW) capabilities in the Asia-Pacific region. This contract, which spans three years, indicates a rising demand for EW technologies as militaries recognize the significance of electromagnetic spectrum control. The announcement was made on May 31, 2022, by General Manager Oren Sabag, highlighting the company's strategic importance in defense technology.

Positive

• Awarded $69 million contract for Electronic Warfare capabilities, enhancing revenue potential.
• Contract spans three years, ensuring long-term business engagement.

Negative

• None.

HAIFA, Israel, May 31, 2022 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ:ESLT) (TASE: ESLT) ("Elbit Systems") announced today that it was awarded a $69 million contract to supply Electronic Warfare (EW) capabilities to a country in Asia-Pacific. The contract will be delivered over a period of three years.

Oren Sabag, General Manager of Elbit Systems ISTAR & EW, said: "We witness a growing demand for our EW capabilities as militaries around the world increasingly recognize the importance of dominating the electromagnetic spectrum."

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.

Company Contacts:

Joseph Gaspar, Senior EVP – Business Management 
Tel:  +972-77-2948661 
j.gaspar@elbitsystems.com

Dr. Yaacov (Kobi) Kagan, EVP & Chief Financial Officer 
Tel:  +972-77-2946663 
kobi.kagan@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.

 

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SOURCE Elbit Systems Ltd.

FAQ

What contract did Elbit Systems (ESLT) secure in May 2022?

Elbit Systems secured a $69 million contract to supply Electronic Warfare capabilities to a country in the Asia-Pacific region.

When was the contract awarded to Elbit Systems (ESLT)?

The contract was awarded on May 31, 2022.

What is the duration of the contract awarded to Elbit Systems (ESLT)?

The contract will be delivered over a period of three years.

Who announced the contract award for Elbit Systems (ESLT)?

The announcement was made by Oren Sabag, General Manager of Elbit Systems ISTAR & EW.

In which region will Elbit Systems (ESLT) provide Electronic Warfare capabilities?

Elbit Systems will provide Electronic Warfare capabilities in the Asia-Pacific region.