HAIFA, Israel, January 5, 2015
Elbit Systems Awarded Approximately $100 Million Contract to Purchase New Firefighting Aircraft and Operate Firefighting Squadron
Elbit Systems Ltd. (NASDAQ and TASE:ESLT) ("Elbit Systems") announced today that it was awarded an approximately $100 million contract from the Israeli Ministry of Defense (IMOD) to procure six new firefighting aircraft and operate the firefighting squadron, which will consist of a total of fourteen aircraft, including eight aircraft previously procured by Elbit Systems. The contract, to be performed over an eight-year period, also covers flight hours, infrastructure upgrade, maintenance, airstrip operation, handling of fire retardants and other aspects of operating the squadron.
The firefighting aircraft, manufactured by Air Tractor, are single-engine aircraft, capable of carrying approximately 3,000 liters of water and flying three hours without refueling.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems commented: "We are very proud to be selected for this opportunity to harness our professional capabilities and vast experience to the collective efforts of protecting Israel's residents and natural landscape".
The Elad firefighting squadron was founded four years ago following the Mount Carmel forest fire and is named after Elad Riben, the fire scout that was killed in this fire. Since then, Elbit Systems has been cooperating with the IAF, firefighting units, the Jewish National Fund and the Israel Nature and Parks Authority in developing the squadron's operational procedures and qualifying designated airstrips. The aircraft will be flown by CHIM-NIR's pilots, the project's subcontractor.
Since its inauguration in 2011, the firefighting squadron has performed over 4,600 missions, accumulated over 2,500 flight hours and has helped extinguish over 500 potentially destructive fires across the country, providing a prompt and professional solution.
About Elbit Systems
Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of 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 ("UAS"), advanced electro-optics, electro-optic space systems, EW suites, signal intelligence ("SIGINT") systems, data links and communications systems and radios. The Company also focuses on the upgrading of existing military platforms, developing new technologies for defense, homeland security and commercial aviation 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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Contacts:
Company Contact:
Joseph Gaspar, Executive VP & CFO
Tel: +972-4-8316663
j.gaspar@elbitsystems.com
Dalia Rosen, VP, Head of Corporate Communications
Tel: +972-4-8316784
dalia.rosen@elbitsystems.com
Elbit Systems Ltd
IR Contact:
Ehud Helft
Kenny Green
GK Investor Relations
Tel: +1-646-201-9246
elbitsystems@gkir.com
SOURCE Elbit Systems Ltd