Elbit Systems' UK Subsidiary Awarded $137 Million Contract to Supply the Future Target Acquisition Solution for Soldiers of the British Armed Forces
Elbit Systems (NASDAQ: ESLT) announced on Jan. 21, 2021, that its UK subsidiary secured a contract worth approximately $137 million from the UK Ministry of Defence. This five-year contract aims to provide a future target acquisition solution for the British Armed Forces under the Dismounted Joint Fires Integrators program. The solution, leveraging Artificial Intelligence, enhances target acquisition for effective engagement of joint fires, facilitating rapid communication across military units.
- Awarded a $137 million contract, indicating a strong relationship with the UK Ministry of Defence.
- The D-JFI solution incorporates advanced technologies, enhancing operational capabilities for the British Armed Forces.
- Potential for increased revenue growth through long-term contracts over five years.
- None.
HAIFA, Israel, Jan. 21, 2021 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or "the Company") announced today that its UK subsidiary, Elbit Systems UK Ltd. ("Elbit Systems UK"), was awarded an approximately
The D-JFI solution to be provided by Elbit Systems UK, is a networked, passive and active target acquisition solution that acquires, generates and communicates target information to effector systems for effective engagement of joint precision and non-precision fires. The solution is empowered by Artificial Intelligence and will interface with the radio communication systems of the British Army, Royal Air Force and Royal Marines. The D-JFI solution draws on the Company's operational experience in providing dismounted network combat solutions. It integrates several of its technologies, including: the TORCH-X™ Battle Management Application; the Hattorix™ system for undetectable generation of high-precision targets, the CORAL Multi-Spectral electro-optical payload for enhanced target acquisition in day and night and the Rattler™ XR long range laser designator. The D-JFI solution will enable fast and secured transmission of target information across the British and Allied Armed Forces, allowing swift and accurate utilization of artillery and close air support.
Martin Fausset, CEO of Elbit Systems UK, said: "It is essential for our Armed Forces to be able to operate swiftly and accurately in hostile environments. The systems to be supplied by Elbit Systems UK represent our commitment to continuously provide the most advanced technology to those on the frontline. The D-JFI solution will provide operational advantage to the British Armed Forces in an increasingly complex battlefield."
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.
Contacts:
Company Contact:
Joseph Gaspar, Executive VP & CFO
Tel: +972-4-8316663
j.gaspar@elbitsystems.com
Rami Myerson, Director, Investor Relations
Tel: +972-77-2948984
rami.myerson@elbitsystems.com
David Vaaknin, VP, Brand & 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.
View original content:SOURCE Elbit Systems Ltd.
FAQ
What is the value of the contract awarded to Elbit Systems by the UK Ministry of Defence?
How long will the contract between Elbit Systems UK and the UK Ministry of Defence last?
What is the purpose of the Dismounted Joint Fires Integrators program?
What technologies does the D-JFI solution incorporate?
How does the D-JFI solution enhance military operations?
