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    ESLT   IL0010811243

ELBIT SYSTEMS LTD.

(ESLT)
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Elbit : Awarded $56 Million in Contracts to Supply Underwater Warfare Capabilities to an Asian-Pacific Navy (Form 6-K)

09/13/2021 | 05:22pm EDT
Elbit Systems Awarded $56 Million in Contracts to Supply
Underwater Warfare Capabilities to an Asian-Pacific Navy

Haifa, Israel, September 13, 2021 - Elbit Systems Ltd. (NASDAQ:ESLT and TASE: ESLT) ('Elbit Systems' or 'the Company') announced today that it was awarded contracts, in an aggregate amount of approximately $56 million, to supply Anti-Submarine Warfare (ASW) capabilities to the Navy of a country in Asia-Pacific. The contracts will be performed over a 12-month period.

Under the contracts, Elbit Systems will provide the Seagull™ USVs (Unmanned Surface Vessels) configured to perform ASW missions and the Towed Reelable Active Passive Sonar (TRAPS) systems. The Seagull USVs will integrate Helicopter/Ship Long-Range Active Sonars (HELRAS) and will be equipped with the Company's autonomous suite, Combat Management System and Satellite Communication capability. The TRAPS systems, which will be installed onboard the customer's corvettes, are low frequency variable-depth-sonars intended for detection, tracking and classification of submarines, midget submarines, surface vessels and torpedoes.

Oren Sabag, Co-General Manager of Elbit Systems ISTAR & EW, commented: 'Advanced autonomous and sonar capabilities are a key to addressing the expanding challenges in the underwater arena. We believe that our portfolio of proven maritime capabilities is well positioned to support the growing operational requirements of naval forces around the world.'

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, 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.
For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.


Company Contact:
Joseph Gaspar, Executive VP & CFO
Tel: +972-4-8316663
j.gaspar@elbitsystems.com
Rami Myerson, Director, Investor Relations
Tel: +972-77-2948984
rami.myerson@elbitsystems.com
David Vaaknin, VP, Brand & Corporate Communications
Tel: +972-77-2946691
david.vaaknin@elbitsystems.com
IR Contact:
Ehud Helft
Kenny Green
GK Investor Relations
Tel: 1-646-201-9246
elbitsystems@gkir.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; 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 Press 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.








Disclaimer

Elbit Systems Ltd. published this content on 13 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2021 21:21:08 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 5 028 M - -
Net income 2021 318 M - -
Net Debt 2021 755 M - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 6 419 M 6 418 M -
EV / Sales 2021 1,43x
EV / Sales 2022 1,33x
Nbr of Employees 16 676
Free-Float 55,6%
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Managers and Directors
Bezhalel Machlis President & Chief Executive Officer
Joseph Gaspar Chief Financial Officer & Executive Vice President
Michael Federmann Chairman
Yehoshua Yehuda Chief Technology Officer & Executive VP-Strategy
Yuval Ramon Chief Operating Officer & Executive Vice President
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