June 27, 2007
Kollsman, an Elbit Systems of America Company, Awarded ID/IQ Contract Worth Up to $97 Million from U.S. Navy
Received Initial Delivery Orders Valued at $14 Million
MERRIMACK, NH, June 27, 2007 – Kollsman, Inc., an Elbit Systems of America, LLC company, announced receipt of an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract from the Naval Inventory Control Point-Philadelphia (NAVICP)/Naval Supply Systems Command (NAVSUP) for test, teardown, analysis, and repair/modification of various Night Targeting System (NTS) Weapon Repairable Assemblies (WRAs) and System Repairable Assemblies (SRAs) in support of the AH-1 W Marine Corps Helicopter. The total ID/IQ contract value may run as high as $97 million over a five-year period. As part of this award Kollsman has received initial delivery orders valued at $14 million. Work will be mainly performed in Merrimack, NH and is expected to be completed in 2012.
Kollsman, a manufacturer of electro-optical and avionics systems for customers in commercial aviation, defense and homeland security, was selected from several hundred entries in the list of the best large companies. The field was narrowed to 10 finalists after a comprehensive site visit and evaluation of company cultures, employee development programs, mission statements, benefits, turnover rates, workplace philosophies and best practices. A variety of judges, including Business NH Magazine staff, and CEOs and human resources professionals throughout the state, made the final selections.
"We are very pleased to be selected by the NAVICP/NAVSUP. This contract continues Kollsman's important work supporting the Marine Corps helicopter mission readiness and demonstrates excellent relations with this depot legacy program", states Randy Moore, Kollsman's Executive Vice President and General Manager.
About Kollsman, Inc.
Kollsman, Inc. is a global development, manufacturing and support organization providing advanced electro-optical and avionics systems to the commercial aerospace, defense, and homeland security markets. The company's expertise includes enhanced vision systems, flight displays, head-up displays, thermal imaging systems, fire control systems, and advanced security and surveillance solutions.
About Elbit Systems of America, LLC
Elbit Systems of America, LLC is a leading provider of high performance products and sub-system solutions focusing on the defense, homeland security, and commercial aviation markets. With facilities in Texas, New Hampshire, Kansas, Alabama, Georgia, Virginia, and California, Elbit Systems of America, LLC is dedicated to supporting those who contribute daily to the defense and safety of the United States. The Elbit Systems of America, LLC group is wholly owned by Elbit Systems Ltd. (NASDAQ: ESLT), a global electronics company engaged in a wide range of programs for innovative defense and homeland security applications.
Additional news and information is available at www.kollsman.com and www.elbitsystemsofamerica.com.
Trademarks
Elbit Systems of America and other trademarks, service marks and logos are registered or unregistered marks of Elbit Systems of America companies in the United States and in foreign countries. Copyright © 2007 Elbit Systems of America, LLC. All rights reserved.
Forward-Looking Statements
Statements in the press release regarding Elbit Systems Ltd. and its subsidiaries including the Elbit Systems of America, LLC and its subsidiaries (collectively "Elbit"), that are not statements of historical fact may include forward-looking statements, and statements regarding Elbit’s beliefs, plans, expectations or intentions regarding the future are 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. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Elbit's actual results could differ materially from these statements.
###
For Information Contact:
Kim Cushman
Tel: (603) 886-2273
E-mail: kcushman@kollsman.com
