Haifa, Israel, February 4, 2019 - Elbit Systems Ltd. (NASDAQ: ESLT, TASE: ESLT) ("Elbit Systems") announced today that its subsidiary in the U.S., Elbit Systems of America LLC, ("Elbit Systems of America") was awarded an initial $5 million contract from Support Systems Associates, Inc. ("SSAI") to provide an avionics refresh for the U.S. Air National Guard's fixed-wing aircraft used for Intelligence, Surveillance and Reconnaissance operations - the RC-26B. If all options are exercised, the total contract would be valued at $22 million. The program will be performed by 2021 from San Antonio, Texas.
The contract with SSAI will include avionics engineering, design, integration, modification, test and maintenance for the technically advanced aircraft. Elbit Systems of America, through type certificate ownership, is the original equipment manufacturer of the RC-26B aircraft.
Raanan Horowitz, President and CEO of Elbit Systems of America, said:
"The U.S. Air National Guard can trust Elbit Systems of America to keep their aircraft mission ready. We are committed to delivering advanced avionics that modernize the RC-26B aircraft and enhances its relevance and sustainability."
M7 Aerospace LLC, a subsidiary of Elbit Systems of America, was awarded an initial $5 million order on a sub-contract from Support Systems Associates, Inc. to provide an avionics refresh for the U.S. Air National Guard's premier fixed-wing aircraft used for Intelligence, Surveillance and Reconnaissance operations - the RC-26B.
M7 Aerospace, through type certificate ownership, is the original equipment manufacturer of the RC-26B aircraft. M7 Aerospace is based in San Antonio, Texas and is a subsidiary of Elbit Systems of America.
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 and cyber-based systems. 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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This press release contains forward looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. 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 and uncertainties, which are difficult to predict. 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; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; 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. The Company does not undertake to update its forward-looking statements.
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