Elbit Systems, Ltd. Announces Successful First Flight of the HERMES 1500 Unmanned Airborne Vehicle
HAIFA, Israel--(BUSINESS WIRE)--June 2, 1998--Elbit Systems Ltd. (NASDAQ-NM Symbol: ESLTF - news) announced today the first flight of the HERMES 1500, a new medium altitude endurance unmanned airborne vehicle (UAV) developed by Silver Arrow, L.P., a 50% owned subsidiary of Elbit Systems Ltd. The HERMES 1500 was developed jointly by the Israeli Ministry of Defense and Silver Arrow as an Advanced Technology Concept Demonstrator for large payload mission performance. It represents the latest generation of large UAVs, incorporating an advanced avionics systems and based on accumulated experience and expertise acquired from previous UAVs. The HERMES 1500 is a twin engine air vehicle of 1500 Kg maximum take-off weight, with high cruise velocity of 130 knots conducting missions up to 30,000 feet, offering enhanced performance and extended mission duration. It may be developed to meet electronic or image intelligence requirements for the defense forces, supplying real time battlefield data around the clock, and to perform cost effectively para-military missions such as coastal patrol, fishing areas monitoring, ecological contamination and monitoring and patrol of other sensitive areas.
Elbit Systems Ltd. is engaged in a wide range of defense-related airborne, ground and command, control and communications (''C3'') programs throughout the world. The Company focuses on upgrading of existing military platforms and developing new technologies for defense applications.
Forward looking statements with respect to the Company's business, financial condition and results of operations, in this release are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward looking statements, including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies as well as certain other risk factors which are detailed from time to time in the Company's SEC filings.
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Contact:
Arie Tal, Corporate Secretary
Ilan Pacholder, Finance Director
Elbit Systems Ltd.
Tel: (972-4) 831-6632
Fax: (972-4) 831-6659
or
Jody Burfening
Lippert/Heilshorn & Associates, Inc.
212-838-3777 (ext. 304)
jody@lhai.com |
