August 20, 2024 | International, Land
The Russian military's plodding reaction to Ukraine's surprise attack — and Ukraine's plan to create a buffer zone in the Kursk region — should compel Western political and military leaders to question many of the assumptions they're been making about this long-running war.
https://www.cbc.ca/news/politics/ukraine-russia-kursk-putin-1.7298943
August 10, 2023 | International, Land
Rheinmetall reported a rise in quarterly operating earnings and affirmed its full-year guidance on Thursday as it benefited from growing demand for weapons and ammunition amid the war in Ukraine.
December 2, 2020 | International, Aerospace
Haifa, Israel, November 29, 2020 – Elbit Systems Ltd. (NASDAQ: ESLT, TASE: ESLT) (“Elbit Systems” or “the Company”) announced today that it was awarded a contract valued at approximately $96 million to supply a European country with a Rotary-Wing Mission Training Center (“Rotary-Wing MTC”) and support services to train its Air Force, Army and Navy helicopter pilots and crews. The contract will be performed over a nine-year period, with an option to extend the maintenance services for an additional 10-year period. The Rotary-Wing MTC is a networked multi-platform, mission-oriented, helicopter training center that will provide multi-level training for helicopter pilots and aircrews across the customer's Armed Forces. The new training center will enable realistic simulated tactical training using all of the helicopter's systems in a wide variety of mission scenarios. The Rotary-Wing MTC draws on the unique technologies and accumulated operational experience of the Company's fighter aircraft tactical mission training centers. Yoram Shmuely, General Manager of Elbit Systems' Aerospace Division commented: “This contract highlights the growing importance that Armed Forces place on leveraging proven technologies to enhance readiness while reducing costs.” About Elbit Systems Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial 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 aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems. For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels. Contacts: Company Contact: Joseph Gaspar, Executive VP & CFO Tel: +972-4-8316663 j.gaspar@elbitsystems.com Rami Myerson, Director, Investor Relations Tel: +972-77-2946403 rami.myerson@elbitsystems.com David Vaaknin, VP, Brand & Communications Tel: +972-77-2946691 david.vaaknin@elbitsystems.com IR Contact: Ehud Helft Gavriel Frohwein GK Investor Relations Tel: 1-646-688-3559 elbitsystems@gkir.com 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, 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; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; 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. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements. Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein. View source version on Elbit Systems: https://elbitsystems.com/pr-new/elbit-systems-awarded-96-million-contract-to-supply-a-rotary-wing-mission-training-center-to-a-european-country/?pageid=PR%20-20%20News
March 19, 2020 | International, Aerospace
By: Aaron Mehta WASHINGTON — A U.S. State Department fund to help European nations replace Russian-made weapons with American equipment has expanded to eight countries, but will be eschewing a second wave of funding in favor of targeted investments. In 2018, the State Department quietly launched a new effort known as the European Recapitalization Incentive Program, or ERIP, a new tool developed alongside U.S. European Command to speed up the process of getting allied nations off Russian gear. The U.S. benefits both strategically — getting partners and allies off Russian equipment to improve interoperability and deny Moscow funds for maintenance — and financially, thanks to the sale of American weapons abroad. ERIP funds, reprogrammed from unused dollars such as regional Foreign Military Financing, come in one-time bursts to help a country buy American-made alternatives to Russian kit. To get the money, the European nation must pledge to not buy Russian equipment in the future, while also at least matching the dollar value of the ERIP grant with domestic funding. The initial funding round consisted of six countries, totaling $190 million in reprogrammed fiscal 2017 dollars. As of last May, the State Department was considering a second round of ERIP grants and was at least in early discussions with Latvia about the funding. But in the time since, the department decided there won't be a second round, but rather ERIP will become a tool best used on a rolling basis. (Discussions with Latvia turned to different pots of money other than ERIP, according to a source.) “There was a lot of discussions about a second round, but the way it's kind of evolving is, rather than look at it as rounds is, look at it as opportunities,” a senior State Department official told Defense News on condition of anonymity. “It's a tool that we can use when opportunities arise for us to work with a partner to make a difference.” All told, the department has given out roughly $277 million in ERIP grants in the last two years — but, the official said, those relatively small dollars helped lock in roughly $2.5 billion in U.S. weapons sales. That's a win in “pure economic terms,” the official said, even before getting into the hard-to-quantify policy and political benefits. “It was a pretty bold decision in trying to help some of these countries acquire a pretty high capability capital intensive, and for some of them it's their first major [Foreign Military Sales] case, period.” Going forward, there may be tie-in money from EUCOM, which could kick in $1-3 million in small grants to nations that received ERIP dollars in order to help nations with maintenance costs on the newly bought American equipment. That money would likely come from DoD's Section 333 authority. Asked about that potential. DoD spokesman Lt. Col. Uriah Orland said the department "continues to work closely with the Department of State in the planning of security assistance with our European partner nations that enables them to reduce their dependencies on Russia's defense industry and build and/or sustain their own defense capabilities.” Targeted, ongoing funding Bulgaria presents a notable example for how the thinking on ERIP is evolving. The country spent several years debating what fighter jet to purchase, with the finalists coming down to new F-16s from Lockheed Martin, secondhand F-16s from Portugal, Eurofighter Typhoons from Italy and Saab Gripens from Sweden. As ERIP was envisioned, it would be used only for rotorcraft or ground vehicles. But with the government in Sofia teetering on the edge of rejecting the Lockheed deal, the U.S. State Department stepped in and used $56 million in ERIP dollars to push the F-16s over the edge and finalize a deal that could exceed $1.6 billion in costs. “For countries where it's a politically contentious issue, whether for economic or political reasons” the fund can help make a deal happen, the official said. “We were able to close that gap with an ERIP grant that enabled them to make the purchase and acquire the capability.” The second nation to get a targeted ERIP grant has been Lithuania, which in October announced plans to buy six UH-60 Black Hawk helicopters to replace its Soviet-made Mi-8 fleet. The State Department kicked in $30 million of ERIP funding to help complete that deal. In fact, no one piece of equipment has benefited from ERIP as much as the UH-60, of which three of the eight ERIP grants has helped procure. The eight projects to date are: Albania: $30 million for UH-60 procurement. The UH-60 is produced by Sikorsky, a Lockheed Martin subsidiary. Bosnia and Herzegovina: $30.7 million for the Bell Huey II. Croatia: $25 million for Bradley fighting vehicles, manufactured by BAE Systems. Croatia is also working to stand up local maintenance for the equipment. North Macedonia: $30 million for Stryker vehicles, produced by General Dynamics. Slovakia: $50 million for UH-60 procurement. Greece: $25 million earmarked, but the government is still debating what to buy. Likely to either be Bradley vehicles or the M1117 Armored Security Vehicle from Textron. Greece stands out because, as a higher-income nation, they are technically ineligible for Foreign Military Financing dollars, but a political decision was made to support them with ERIP anyway, the official said. Lithuania: $30 million for UH-60 procurement. Bulgaria: $56 million for eight Lockheed-produced F-16s. All of those deals except Greece and Lithuania are under contract, with a letter of request from Lithuania expected in the next few weeks. As to future opportunities, “we always kind of have our eye open, and we rely on the country teams out in the field to bring us these opportunities and think about them,” the official said. Although at the moment there are no potential ERIP projects in the works. “We continue to look at the Baltics, we look at the Balkans,” the official said, adding that “countries within Eastern Europe, the Baltics, the Balkans moving towards a new ground mobility or rotorwing systems with something to divest would be our top candidates.” All of those deals except Greece and Lithuania are under contract, with a letter of request from Lithuania expected in the next few weeks. As to future opportunities, “we always kind of have our eye open, and we rely on the country teams out in the field to bring us these opportunities and think about them,” the official said. Although at the moment there are no potential ERIP projects in the works. “We continue to look at the Baltics, we look at the Balkans,” the official said, adding that “countries within Eastern Europe, the Baltics, the Balkans moving towards a new ground mobility or rotorwing systems with something to divest would be our top candidates.” https://www.defensenews.com/global/europe/2020/03/18/special-us-fund-to-replace-russian-equipment-in-europe-is-shifting-its-strategy