Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that its Brazilian subsidiary, AEL Sistemas S.A ("AEL") was awarded a follow-on contract from a subsidiary of Embraer S.A. ("Embraer Defense and Security") for the upgrade of eleven F-5 aircraft. AEL is the main subcontractor to Embraer Defense and Security, the prime contractor for the project. The contract is valued at $85 million, to be performed through 2013.
The upgrade contract, which is a follow-on to contracts awarded in 2001 and 2007, will include engineering services and the delivery of all system equipment, including the mission computer, display systems, radar, EW system, ammunition management system and other avionics products. In addition, as part of the contract, AEL will supply a flight simulator, spares and ground support equipment.
Joseph Ackerman, President and CEO of Elbit Systems, commented: "We are proud of AEL's selection to perform this follow-on project, which underscores AEL's ability to provide both Embraer and the Brazilian Air Force with advanced in-country engineering, development, manufacturing and logistics support. Through significant investments and on-going joint programs, AEL has become a center of excellence for avionics and the follow-on award attests to the customer's satisfaction with our performance track record." Ackerman added: "We trust that the new contract will further strengthen the excellent cooperation between AEL, Embraer and the Brazilian Air Force, and we hope that other customers will decide to follow Brazil and select our combat-proven upgrade programs."
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