Elbit Systems Awarded a $338 Million Contract to Supply the E-LynX Mobile Radio Network Solution for the Swiss Armed Forces
Elbit Systems Ltd. (NASDAQ: ESLT) announced a $338 million contract with the Swiss Federal Department of Defense to supply an army-wide tactical mobile Software Defined Radio network solution. This contract, part of the Telecommunications Armed Forces digitization program, will be executed over six years. The award follows extensive evaluations by the Swiss Armed Forces. CEO Bezhalel Machlis emphasized Switzerland as a strategic market and the recognition of the E-LynX SDR solution in advanced military communication.
- Awarded a $338 million contract by the Swiss Federal Department of Defense.
- Contract duration is six years, ensuring long-term revenue.
- The deal emphasizes Elbit's strategic market position in Switzerland.
- None.
HAIFA, Israel, Dec. 17, 2020 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or "the Company") announced today, further to the Company's report from October 29, 2019, that it was awarded an approximately
This contract award follows more than three years of extensive and competitive technical as well as field evaluations conducted by the Federal Office for Defense Procurement and the Swiss Armed Forces. The digital mobile network solution to be provided is based on the E-LynX™ family of open architecture SDR, enabling fast, reliable and secure communication across the Swiss Armed Forces.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, commented: "Switzerland is a strategic market for us, and we will continue with our efforts to support the Swiss Armed Forces and expand our cooperation with the Swiss industry. This contract award underlines the growing recognition by European Armed Forces of the E-LynX mobile SDR solution as the favored enabler for advanced military mobile networking and digitization."
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.
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Company Contact:
Joseph Gaspar, Executive VP & CFO Tel: +972-4-8316663
Rami Myerson, Director, Investor Relations Tel: +972-77-2948984
David Vaaknin, VP, Head of Corporate Communications Tel: +972-77-2946691 david.vaaknin@elbitsystems.com
| IR Contact:
Ehud Helft Kenny Green GK Investor Relations Tel: 1-646-201-9246 |
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.
