This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management s current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company s future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore,
Romania awards Elbit $27mln deal for upgrade of Air Force s IAR-99 aircraft IAR-99 aircraft
Source: Elbit
BUCHAREST (Romania), December 14 (SeeNews) - Israel-based defence electronics company Elbit Systems said on Monday that it was awarded a $27 million (22.2 million euro) contract by Romanian aircraft manufacturer Avioane Craiova [BSE:AVIO] as part of a programme for the upgrade of the Romanian Air Force s IAR-99 Standard trainer aircraft.
The contract will be performed over a four-year period and includes integrated logistic support, Elbit said in a press release.
Under the contract, Elbit Systems will equip the IAR-99 Standard aircraft with advanced avionics systems and live training embedded virtual avionics system as well as close air support and air-to-air capabilities. This technology upgrade will facilitate an effective transition of Romanian Air Force (RoAF) pilots to the operation of advanced fighter aircraft such as the F-16.