Elbit Systems To Perform Airborne Upgrade Projects in Europe Valued at $80 Million

Elbit Systems Ltd. (NASDAQ:ESLT) announced that it was recently awarded several airborne upgrade contracts at a total value of approximately $80 million. Signed with European customers, the projects will be performed over the course of the next three years.

The contracts awarded, which call for the upgrade of both fixed-wing aircraft and helicopters, will encompass the installation of some of Elbit Systems' innovative systems, including: display systems, battle mission computers, command & control systems and advanced helmet systems.

Yoram Shmuely, Joint General Manager of Elbit Systems' Aerospace Division, commented: "The new contracts were all received from existing customers for whom the company has already performed upgrade projects, all of which platforms upgraded by Elbit are operational to the customers' satisfaction".

Elbit Systems is a world leader in aircraft and helicopter upgrade programs. Electronic systems based on highly advanced technology, fully developed by Elbit Systems, have been integrated on a broad scale of veteran and new platforms, for both Israeli customers and for customers worldwide.

The integration of modern systems on new and veteran aircraft enhance the pilot's survivability and operational capabilities, thus placing the upgraded aircraft inline with new aircraft standards, while saving costs.

About Elbit Systems

Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defense-related 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 air vehicle (UAV) systems, 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 and developing new technologies for defense, homeland security and commercial aviation applications.