HAIFA,
Israel, July 29, 2024 /PRNewswire/ -- Elbit
Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or
the "Company") announced today that it was awarded a contract worth
approximately $190 million to supply
its Iron Sting laser and GPS-guided mortar munition to the Israeli
Ministry of Defense. The contract will be performed over a period
of 2 years.
Iron Sting is a precision-guided mortar munition,
launched from a 120mm mortar, designed to accurately target and
destroy objectives, utilizing both immune GPS and laser guidance
technology. It has a range of up to 10 kilometers. Iron Sting
features a multi-mode fuze with Point Detonation (PD), Point
Detonation Delay (PDD), and Proximity Sensor (PRX) operating modes.
The loading time is approximately 15 seconds.
Yehuda (Udi)
Vered, General Manager of Elbit Systems
Land: "Following the combat experience our cutting-edge
guided mortar munition has accumulated, this contract further
cements our position as a market leader in precision-guided
solutions. With the rise of military conflicts in urban
environments, armed forces around the world demand accurate
technologies that minimize collateral damage. Elbit Systems' Iron
Sting meets this critical need."
About Elbit Systems
Elbit Systems is a leading global defense
technology company, delivering advanced solutions for a secure and
safer world. Elbit Systems develops, manufactures, integrates and
sustains a range of next-generation solutions across multiple
domains.
Driven by its agile, collaborative culture, and
leveraging Israel's technology
ecosystem, Elbit Systems enables customers to address rapidly
evolving battlefield challenges and overcome threats.
Elbit Systems employs over 19,000 people in
dozens of countries across five continents. The Company reported as
of March 31, 2024 approximately
$1.6 billion in revenues and an order
backlog of $20.4 billion.
For additional information, visit:
https://elbitsystems.com, follow us on Twitter or visit our
official Facebook, Youtube and LinkedIn Channels.
Company Contact:
Dr. Yaacov
(Kobi) Kagan, Executive VP - CFO
Tel:
+972-77-2946663
kobi.kagan@elbitsystems.com
Dr. David
Ravia, Investor Relations
Tel:
+972-77-2947169
david.ravia@elbitsystems.com
Dalia
Bodinger, VP, Communication & Brand
Tel:
972-77-2947602
dalia.bodinger@elbitsystems.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,
including the duration and scope of the current war in Israel, and the potential impact on our
operations; 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 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.
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SOURCE Elbit Systems Ltd.
