Elbit Systems UK Awarded a Follow-on $19 Million Contract to Supply Night Vision Goggles to the British Army

Rhea-AI Summary

Elbit Systems Ltd (NASDAQ: ESLT) announced a follow-on contract worth $19 million with the British Army for Night Vision Goggles (NVG) and support services. This contract will be executed over an 18-month period, providing XACT nv33 NVGs in a helmet-mounted configuration, enhancing operational effectiveness in low-light conditions. The successful delivery of previous goggles reinforced Elbit Systems UK's reputation for efficiency and advanced technology within NATO forces.

Positive

• Follow-on contract valued at $19 million for night vision goggles.
• Execution over 18 months showcases ongoing business with the British Army.
• Strengthens reputation with NATO member countries.

Negative

• None.

HAIFA, Israel, Nov. 10, 2022 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that its subsidiary Elbit Systems UK Ltd. ("Elbit Systems UK") was awarded a follow-on contract valued at approximately $19 million (approximately £17 million) to supply Night Vision Goggles (NVG) and through-life support to the British Army. The contract will be executed over a 18-month period.

Under the contract, Elbit Systems UK will supply the lightweight micro binocular XACT nv33 NVGs in a helmet-mounted configuration. XACT nv33 NVG are designed to enable troops to operate effectively in low-light conditions at a tactical level, maximizing their mission efficiency in both dismounted and mounted roles. Products from the XACT family are already in operational use with a number of NATO members including the Netherlands and Germany.

Martin Fausset, CEO of Elbit Systems UK, said: "This contract award follows the successful and rapid delivery of our night vision goggles to the British military, and builds on our track record of efficiency, our domestic manufacturing capabilities and our proven and cutting-edge equipment."

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 Contacts:

Joseph Gaspar, Senior EVP – Business Management 
Tel:  +972-77-2948661 
j.gaspar@elbitsystems.com

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, Head of Corporate Communications 
Tel: +972-77-2946691 
david.vaaknin@elbitsystems.com

IR Contact:

Ehud Helft 
Kenny Green 
EK Global IR  
Tel: 1-212-378-8040 
elbitsystems@ekgir.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

FAQ

What is the value of the contract awarded to Elbit Systems UK?

The contract awarded to Elbit Systems UK is valued at approximately $19 million.

How long will the contract for night vision goggles last?

The contract will be executed over an 18-month period.

What type of night vision goggles is Elbit Systems supplying?

Elbit Systems is supplying the lightweight micro binocular XACT nv33 NVGs.

Who is the contract with?

The contract is with the British Army.

What is the stock symbol for Elbit Systems?

The stock symbol for Elbit Systems is ESLT.