Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that AEL International Ltd., a subsidiary of AEL Sistemas S.A., which is a Brazilian subsidiary of Elbit Systems, was awarded a contract to supply electro-optic observation systems to Savis Tecnologia e Sistemas S.A, a subsidiary of Embraer Defesa & Segurança S.A., wholly-owned by Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: BR3). The contract value is in an amount that is not material to Elbit Systems.
The electro-optic systems will be supplied within a year, starting in 2014, as part of the first phase of the Brazilian multi-year "Sisfron" Integrated Border Monitoring System.
In addition, as part of the program, Elbit Systems will be making investments in Brazil in terms of assets, infrastructure and know-how in optronics.
Mr. Bezhalel (Butzi) Machlis, Elbit Systems' President and CEO, commented: "We see great importance in this award, marking a breakthrough for our electro-optic activities in Brazil, which is a significant market for Elbit Systems. Sisfron is a global leading and very unique border security project, and we are very proud to be involved in it. This is yet an additional opportunity for our Brazilian companies to provide our advanced technologies, this time in the field of observation, in Brazil, a country that values unique, cutting edge technology in every field of operation."
Source: Elbit Systems Ltd.
Date: Apr 29, 2013