Croatian Ministry of Defense Selects Elbit Systems Ltd. For MIG-21 Aircraft Upgrade Program.HAIFA Haifa (hī`fä), city (1994 pop. 246,700), NW Israel, a port on the Mediterranean Sea, at the foot of Mt. Carmel. Haifa is the chief city of N Israel and the country's principal oil refining center. , Israel--(BUSINESS WIRE)--Feb. 16, 1999--Elbit Systems Ltd. (NASDAQ/NM symbol: ESLTF) announced today that the Minister of Defense of Croatia Croatia (krōā`shə), Croatian Hrvatska, officially Republic of Croatia, republic (2005 est. pop. 4,496,000), 21,824 sq mi (56,524 sq km), in the northwest corner of the Balkan Peninsula. , during his visit to Israel Israel, in the Bible Israel (ĭz`rēəl, ĭz`rāəl) [as understood by Hebrews,=he strives with God], according to the book of Genesis, name given to Jacob as eponymous ancestor of the Hebrews, the chosen people of God. , announced that the Croatian Defense Ministry decided to select Elbit Systems' proposal to upgrade Croatia Air Force's MIG-21 aircraft. The Company will act as the prime contractor of the upgrade project in cooperation with Israel Aircraft Industries Ltd. and other companies in Israel, Croatia and Romania Romania (rōmān`ēə, –yə) or Rumania (r  –), republic (v), 91,699 sq mi (237,500 sq km), SE Europe. . The Minister of Defense of Croatia indicated that the Company would be invited in the near future to conduct contract negotiations. Implementation of the project is subject to concluding a detailed agreement with the Croatian Defense Ministry. The amount of the contract will be established during the negotiations and if the contract is concluded, its value is expected to be material to the Company. About Elbit System Ltd. Elbit Systems Elbit Systems Ltd. NASDAQ: ESLT is one of Israel's largest defense electronics manufacturers and integrators. Established in 1967, and based in Haifa, Israel, Elbit has over 8,000 employees. Ltd. is engaged in a wide range of defense-related airborne airborne /air·borne/ (ar´born) suspended in, transported by, or spread by air. airborne, adj carried through the air. In health care settings, viruses or bacteria may become airborne, e.g. , ground and command, control and communications ("C3") programs throughout the world. The Company focuses on upgrading of existing military platforms and developing new technologies for defense applications. Forward looking statements with respect to the Company's business, financial condition and results of operations, in this release are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward looking statements, including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies as well as certain other risk factors which are detailed from time to time in the Company's SEC filings. |
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