Elbit Systems Awarded Contract Worth Over $6 Million by the Republic of Korea; Elbit Systems To Supply ANVIS/HUD Night Vision Systems for Korean Army And Air Force Helicopters.Business Editors HAIFA, Israel--(BUSINESS WIRE)--Feb. 8, 2000 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. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ESLTF) (&uot;the Company&uot;) announced today that it has been awarded a contract by the Republic of Korea's Ministry of National Defense to supply ANVIS/HUD ANVIS/HUD Aviation Night Vision Imaging System/Heads Up Display Night Vision Systems to Korean Army The phrase Korean Army can refer to:
Under the contract, the Company will supply Aviator Night Vision Head-Up Display See heads-up display. Systems (ANVIS/HUD) to equip Korea's UH-60, CH-47 and AH-1 helicopters in service with its armed forces. The initial value of the contract is over $6 million, and may be expanded to include more than 200 additional systems. The ANVIS/HUD system provides pilots with critical flight data during night operations and enhances pilot's visibility and night-flying safety. Joseph Ackerman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Elbit Systems, said, &uot;This new award constitutes an important milestone for the Company in the Korean defense market. The ANVIS/HUD program for the Korean Army and Air Force will create a base which may lead to the expansion of Elbit Systems' presence in this important market.&uot; In recent years Elbit Systems has supplied ANVIS/HUD systems to customers worldwide, including the U.S. Army, U.S. Navy and U.S. Marines Corps, the Australian Army, the Israeli Air Force The Israeli Air Force (IAF; Hebrew: זרוע האויר והחלל, Zroa HaAvir VeHaḤalal and others. Elbit Systems also has extensive experience in the upgrading of helicopters for customers worldwide, including the Sikorsky CH-53 for the Israeli Air Force and the PUMA helicopter for the Romanian Air Force, as well as in developing advanced avionics for various rotary-wing platforms, such as the Boeing Osprey osprey (ŏs`prē), common name for a bird of prey related to the hawk and the New World vulture and found near water in most parts of the world. V-22, the Israeli Air Force Panther naval helicopter and night vision head-up display systems for numerous types of helicopters in the U.S., Israel and worldwide. About Elbit Systems Ltd. Elbit Systems is engaged in a wide range of defense-related airborne, ground and command, control and communications programs throughout the world. It focuses on upgrading of existing military platforms and developing new technologies for defense applications. Important Notice 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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