Elbit Systems to Establish a Mission Training Center for Fighter Pilots of a Latin American Air Force
Contract, valued at $18.5 million, to be performed during 2014
HAIFA, Israel, Sept. 23, 2012
HAIFA, Israel, Sept. 23, 2012 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that it was awarded a contract valued at $18.5 million for the establishment of a Mission Training Center (MTC) for fighter aircraft of a Latin American Air Force. The establishment of the MTC will be performed during 2014.
The MTC is designed to improve the operational training of pilots by training in various mission scenarios, in varying war zones and in the relevant threat environment of each war zone - a cutting-edge training capability which has not been available to Air Forces in the past. The high quality of operational training achieved by the MTC will enable the customer to operate some of the training sorties onboard the trainers instead of fighter jets, thus allowing optimal use of existing resources.
This new contract marks another milestone in Elbit Systems' mission training activities and follows the establishment of the MTC for the Israeli Ministry of Defense (IMOD) for the F-16 and F-15 fighter aircraft.
Elbit Systems Aerospace Division's Co-General Manager, Yoram Shmuely, commented: "We are proud of the customer's decision to select our breakthrough solution, marking a significant milestone in our mission training activities. This selection attests to the trust in Elbit Systems' solutions, combining both a technological edge and the understanding of the customer's unique needs, and further strengthens our position as world leaders in the field of advanced tactical training."
The MTC is a unique system that enables joint-training between the various trainees, both within the Air Force and at an interoperable level. The Air Force teams will be able to train in formations of pairs and foursomes, and the system will also enable integration with other training systems. In addition, the system will allow joint-training of various mission scenarios, even if the different trainers are situated in geographically distant locations.
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, airborne warning systems, ELINT systems, data links and military 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.
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.