Elbit Systems Awarded a $27 Million Contract to Supply Air-to-Air Combat Training Systems to a Navy in South Asia

Rhea-AI Summary

On August 17, 2020, Elbit Systems Ltd. (NASDAQ: ESLT) announced it secured a $27 million contract to provide air-to-air combat training systems for a Navy in South Asia. The contract spans two years, with an additional three years for maintenance. The deal involves the EHUD^TM Air Combat Maneuvering Instrumentation systems, enhancing military training with features like real-time hit notifications and electronic warfare capabilities. Elbit Systems' experience in the field supports its competitive edge in providing advanced training solutions.

Positive

• Awarded a $27 million contract enhancing revenue streams.
• EHUD ACMI systems recognized for advanced training capabilities.
• Contract includes three years of maintenance services, promising future revenue.

Negative

• None.

HAIFA, Israel, Aug. 17, 2020 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or "the Company") announced today that it was awarded a contract valued at approximately $27 million to supply air-to-air combat training systems for the Navy of a South Asian Country. The contract will be performed over a two-year period, to be followed by three years of availability-based maintenance.

The contract calls for the supply of EHUD^TM Air Combat Maneuvering Instrumentation ("EHUD ACMI") systems, to be operated from the Navy's shore bases as well as onboard aircraft carriers.

EHUD ACMI offers advanced air-to-air combat training capabilities, including features such as real-time hit notification and removal, real-time electronic warfare and air-to-air weapons delivery, simulation and advanced debriefing. The system supports an unlimited number of live networked participants, through Elbit Systems' data-link protocol that also allows interoperability with existing EHUD ACMI systems operated by the customer. The EHUD ACMI training systems are currently operated by numerous Air Forces across four continents, including several NATO countries.

Yoram Shmuely, General Manager of Elbit Systems' Aerospace Division, commented: "We are proud to supply advanced combat training capabilities to the customer's Navy, following the successful operation of these systems by its Air Force. Elbit Systems is the Israel Defense Forces' training and simulation house and our continued investment in this area together with the extensive operational experience we have accumulated, enable us to stay well ahead of the curve, also to the benefit of our international customers."

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 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.

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SOURCE Elbit Systems Ltd.