Elbit Systems of America awarded approx. $50 million ID/IQ contract to support U.S. Army helicopter pilots

Rhea-AI Summary

Elbit Systems of America has been awarded a five-year, $50 million IDIQ contract by the Defense Logistics Agency to produce spare parts for the Aviators' Night Vision Imaging System/Head-Up Display (ANVIS HUD) system. The initial order amounts to $17.9 million, scheduled for delivery until 2023. This contract ensures the availability of crucial equipment for U.S. Army helicopter pilots, enhancing their situational awareness and safety during missions. Elbit's ongoing commitment to supplying the ANVIS HUD strengthens its position in U.S. Army aviation modernization efforts.

Positive

• Awarded a five-year IDIQ contract worth $50 million for ANVIS HUD spare parts.
• Initial order of $17.9 million ensures immediate supply and cash flow.
• Strengthens U.S. Army helicopter pilots' safety and operational effectiveness.
• Continues Elbit's long-standing relationship with U.S. Army aviation systems.

Negative

• None.

FORT WORTH, Texas, Oct. 7, 2020 /PRNewswire/ -- On behalf of the United States Army, the Defense Logistics Agency has awarded Elbit Systems of America a five-year firm-fixed price, indefinite delivery/indefinite-quantity contract with a maximum value of approximately $50 million for the production of spare parts in support of the Aviators' Night Vision Imaging System/Head-Up Display system (ANVIS HUD). An initial order for $17.9 million was recently placed under this contract to be supplied until 2023.

The ANVIS HUD is Elbit Systems of America's current day and night display that connects to the helmets of Army helicopter pilots. The system presents important information in front of the pilot's eyes, such as altitude, speed and heading. The ANVIS HUD allows the pilot's head to remain upright and looking out of the aircraft, with all applicable information presented before their eye, instead of looking down or inside the cockpit to view information from various sensors.

"Provisioning ANVIS HUD spares ensures U.S. Army pilots always have the equipment available to support aircraft readiness," said Raanan Horowitz, President and CEO of Elbit Systems of America. "Our company has a long history of supplying the ANVIS HUD and we're dedicated to continuing to supply these systems that aid performance, increase operator situational awareness, and ultimately Warfighter safety."

Elbit Systems of America produces and sustains all of the U.S. Army's helmet mounted displays in the UH-60, CH-47, and AH-64 fleets and recently won the Common Helmet Mounted Display program to begin upgrading the display on select U.S. Army airframes. Using these existing programs and investing in the future, we are focused on improving mission effectiveness with increased aircrew situational awareness. We understand our products remain key components of U.S. Army Aviation modernization for both the enduring fleet and the new Future Vertical Lift platforms.  

More information on Elbit Systems of America's Airborne Solutions is available at http://www.elbitsystems-us.com/airborne.

About Elbit Systems of America, LLC

Elbit Systems of America, headquartered in Fort Worth, Texas, is a leading provider of high-performance products, system solutions, and support services focusing on the defense, homeland security, law enforcement, commercial aviation, and medical instrumentation markets. With facilities throughout the U.S., Elbit Systems of America is dedicated to supporting those who contribute daily to the safety and security of the United States. Elbit Systems of America, LLC is wholly owned by Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT), a global high technology company engaged in a wide range of programs for innovative defense and commercial applications. For additional information, visit: www.ElbitAmerica.com or follow us on Twitter, LinkedIn and Instagram.

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.

Trademarks

Elbit Systems of America and other trademarks, service marks and logos are registered or unregistered marks of Elbit Systems of America companies in the United States and in foreign countries. Copyright ©2020 Elbit Systems of America. All rights reserved.

Forward Looking Statement

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.

Media Contacts:

Greg Caires | 682-286-2299 | greg.caires@elbitsystems-us.com 

Amy Hartley I 682-286-2411 I amy.hartley@elbitsystems-us.com

 

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SOURCE Elbit Systems of America, LLC

FAQ

What is the value of Elbit Systems' contract with the U.S. Army?

The contract is valued at approximately $50 million.

What is the initial order amount under the new contract?

The initial order under the contract is for $17.9 million.

What does the ANVIS HUD system do for Army pilots?

The ANVIS HUD presents critical information in front of the pilot's eyes, improving situational awareness.

How long is the contract for Elbit Systems of America?

The contract spans five years.

What impact does this contract have on Elbit Systems' stock symbol ESLT?

The contract may positively influence the stock performance of ESLT by securing revenue and supporting military operations.