HAIFA, Israel, July 1 /PRNewswire-FirstCall/ -- Elbit Systems Ltd.
(NASDAQ: ESLT) (Elbit Systems) announced that all approvals required for
the merger of Tadiran Communications Ltd. (Tadiran Communications) with and
into Elbit Systems have been obtained, and the Israeli Registrar of
Companies issued its merger order on June 30, 2008. This is further to the
announcement on November 7, 2007, regarding Elbit Systems Board of
Directors' approval of the merger.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 )
Pursuant to the approved merger, Tadiran Communications transferred all
of its assets and liabilities to Elbit Systems, merged with and into Elbit
Systems and no longer exists as a legal entity.
The Merger is part of Elbit Systems' re-organization plan. It includes
a merger and a vertical demerger of Elbit Systems' Land Systems and C4I
Division together with most of the operations and activities of Tadiran
Communications in Israel prior to the merger into a wholly-owned Israeli
subsidiary, Elbit Systems Land and C4I - Tadiran Ltd. The demerger occurred
immediately after the approval of the merger and as an integral part
thereof. In addition, Tadiran Communications' former U.S. subsidiaries have
become a part of the Elbit Systems of America companies.
About Elbit Systems
Elbit Systems Ltd. is an international defense electronics company
engaged in a wide range of defense-related programs throughout the world.
The Company, which includes Elbit Systems and its subsidiaries, operates in
the areas of aerospace, land and naval systems, command, control,
communications, computers, intelligence surveillance and reconnaissance
("C4ISR"), unmanned air vehicle (UAV) systems, advanced electro-optics,
electro-optic space systems, EW suites, airborne warning systems, ELINT
systems, data links and military communications systems and radios. The
Company also focuses on the upgrading of existing military platforms and
developing new technologies for defense, homeland security and commercial
aviation applications.
This press release contains 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) regarding
Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to
the extent such statements do not relate to historical or current fact.
Forward Looking Statements are based on management's expectations,
estimates, projections and assumptions. 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 and uncertainties, which are
difficult to predict. Therefore, actual future results, performance and
trends may differ materially from these forward-looking statements due to a
variety of factors, including, without limitation: scope and length of
customer contracts; governmental regulations and approvals; changes in
governmental budgeting priorities; general market, political and economic
conditions in the countries in which the Company operates or sells,
including Israel and the United States among others; differences in
anticipated and actual program performance, including the ability to
perform under long-term fixed-price contracts; and the outcome of legal
and/or regulatory proceedings. The factors listed above are not
all-inclusive, and further information is contained in Elbit Systems Ltd.'s
latest annual report on Form 20-F, which is on file with the U.S.
Securities and Exchange Commission. All forward-looking statements speak
only as of the date of this release. The Company does not undertake to
update its forward-looking statements.
Contacts:
Company Contact: IR Contact:
Joseph Gaspar, Executive VP & CFO Ehud Helft / Kenny Green
Dalia Rosen, Head of Corporate Communications G.K. Investor Relations
Elbit Systems Ltd Tel: +1-646-201-9246
Tel: +972-4-8316663 Fax: +972-3-607-4711
Fax: +972-4-8316944 E-mail: info@gkir.com
E-mail: gspr@elbit.co.il
daliarosen@elbit.co.il
SOURCE Elbit Systems Ltd
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Photo Notes:http://www.newscom.com/cgi-bin/prnh/20080408/300441
CONTACT:
Contacts: Company Contact: Joseph Gaspar,
Executive VP & CFO, Dalia Rosen, Head of Corporate
Communications, Elbit Systems Ltd, Tel: +972-4-8316663, Fax:
+972-4-8316944, E-mail: gspr@elbit.co.il, daliarosen@elbit.co.il;
IR Contact: Ehud Helft / Kenny Green, G.K. Investor Relations,
Tel: +1-646-201-9246, Fax: +972-3-607-4711, E-mail: info@gkir.com
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