Elbit Systems Sweden Awarded a Contract to Supply Combat Management Systems to the Royal Swedish Navy
Elbit Systems Ltd (NASDAQ: ESLT) announced that its Swedish subsidiary won a contract from the Swedish Defence Material Administration to supply Albatross Combat Management Systems for the Royal Swedish Navy. The contract is valued at an amount not material to the company and will be executed over 34 months. The Albatross CMS enhances operational capabilities during mine countermeasures by providing real-time data integration. Elbit Systems expects rising demand for its naval solutions, following other recent contract wins in Europe and Asia Pacific.
- Awarded contract from Swedish Defence Material Administration for Albatross CMS.
- Contract duration of 34 months signifies stable revenue stream.
- Increasing demand for naval portfolio supports future growth.
- Contract amount not material to overall financials, limiting immediate impact.
HAIFA, Israel, Jan. 13, 2022 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that following a competitive tender process, its Swedish subsidiary, Elbit Systems Sweden AB. ("Elbit Systems Sweden"), was awarded a contract from the Swedish Defence Material Administration ("FMV") to supply the Albatross Combat Management Systems (CMS) for the Royal Swedish Navy. The contract that is in an amount that is not material to Elbit Systems, will be performed over a period of 34 months.
Elbit Systems Sweden will supply the Albatross CMS for the Spårö Class Mine Countermeasures (MCM) Vessels of the Royal Swedish Navy. Albatross is a scalable open architecture CMS that is based on the Company's E-CIX ™ platform. Albatross CMS enables commanders and operators to receive a common operational picture correlating underwater detection and surface tracks, based on real-time data, live video streaming and imagery data, thereby expanding the operational envelop, increasing flexibility and enabling effective decision making during MCM missions.
Tobias Wennberg, General Manager of Elbit Systems Sweden, said: "We appreciate the trust placed by the Swedish Defense Material Administration and the Swedish Armed Forces in our solutions. Elbit Systems sees a growing demand for its naval portfolio, with this award joining recent contract awards from maritime customers across Europe and Asia Pacific."
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
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.
View original content:https://www.prnewswire.com/news-releases/elbit-systems-sweden-awarded-a-contract-to-supply-combat-management-systems-to-the-royal-swedish-navy-301460232.html
SOURCE Elbit Systems Ltd
