Haifa, Israel, April 11, 2019 – Elbit Systems Ltd. (NASDAQ: ESLT, TASE: ESLT) (“Elbit Systems” or “the Company”) announced today that it was awarded an approximately $30 million contract to supply STYLET, a precise Guided Mortar Munition (GMM) to a country in Asia- Pacific. The contract will be performed over a two-year period.
With a range of 1000-8500m, STYLET is a multi-mode GPS/INS guided 120mm GMM that is designed for tactical combat units and Special-Forces. STYLET’s high accuracy of less than 10 meters Circular Error Probable (CEP) provides ground forces with an affordable precise solution that is easy and quick to operate, increasing their operational effectiveness while sharply reducing collateral damage.
Yehuda (Udi) Vered, General Manager of Elbit Systems Land , commented: “We are proud of the introduction of this new round into our portfolio of precise Guided Mortar Munitions. We see a growing demand for high-precision guided munitions that are also economically efficient. This contract award underscores the Company’s significantly improved positioning in the ordnance area in general, and in the area of precise guided munitions in particular, following the acquisition of IMI Systems.”
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 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.
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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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