Elbit Systems Awarded Approximately $220 Million Contract to Supply Airborne Precision Munition Solution to a Country in Asia-Pacific
Elbit Systems Ltd (NASDAQ: ESLT) has secured a contract worth approximately $220 million to supply precision guidance kits for airborne munitions to an Asian country. The contract spans 15 months and involves the delivery of the Lizard precision guidance kit, which enhances the targeting accuracy of general-purpose warheads.
CEO Bezhalel Machlis emphasized the increasing demand for precision fire capabilities in modern warfare, driven by lessons learned from recent conflicts.
- Awarded $220 million contract for precision guidance kits.
- Lizard kit enhances targeting accuracy for airborne munitions.
- Contract duration of 15 months ensures steady revenue stream.
- None.
HAIFA, Israel, June 29, 2022 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) and (TASE: ESLT) ("Elbit Systems") announced today that it was awarded an approximately
Under the contract, Elbit Systems will supply the Lizard precision guidance kit for general purpose airborne warheads. The Lizard is a laser-based precision guidance kit enabling general purpose airborne warheads, of both Western and Eastern versions, to engage targets, including fast moving ones, with high accuracy.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: "There is an increase in the demand for our precision fire capabilities as high accuracy has become an operational imperative across all domain of operations. Armed forces around the globe are requiring solutions that enable efficient conversion of ammunition stockpiles into a capability that is relevant in modern warfare, especially in light of lessons learned from recent military conflicts."
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 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 and 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
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