HAIFA, Israel, February 24 /PRNewswire-FirstCall/ -- Elbit Systems Ltd.
(NASDAQ: ESLT) announced, further to its announcement on January 8, 2008,
that its wholly-owned Israeli subsidiary, Elbit Systems Land and C4I-Tadiran
Ltd. ("ESLC-T") acquired all of the shares of Shiron Satellite Communications
(1996) Ltd. ("Shiron"), a privately-owned Israeli company, for a purchase
price of $16 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 )
Shiron is engaged in the broadband communication market. Its solutions
are suited for the growing interactive multimedia broadband satellite market.
Shiron's InterSKY(TM) satellite communications system provides broadband
satellite services to remote locations Shiron's technology, well proven in
the commercial market, is anticipated to be synergetic to the communication
technology developed and implemented in ESLC-T's military systems and
products.
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.
Contacts:
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.
