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Elbit Systems UK consolidates market position

10 January 2022

London, 10th January 2022 – Elbit Systems UK today announced that it has sold Ferranti Technologies’ Power and Control business to TT Electronics plc. This confirms Elbit Systems UK’s strategy of focussing on the growth of its core business through continued investment, and consolidating its market position as a leading provider of advanced technology-enabled solutions and services.

These changes will allow the company to focus its extensive knowledge and skills on developing new and innovative technology solutions and growing the company’s footprint in specific areas, to meet the future capability requirements of the UK Armed Forces.

The newly designated Elbit Systems UK Aerospace and Simulation Business Unit, has become a leader in providing cutting-edge technology solutions to the UK Ministry of Defence, ranging from advanced simulation capabilities for the Army such as the Joint Fires Synthetic Trainer (JFST) and Interim Combined Arms Virtual Simulation (Deployable) (ICAVS (D)), as well as being the Synthetic Integrator for the Fisher Consortium to the Royal Navy through the Selborne Programme. 

Martin Fausset, CEO of Elbit Systems UK said:

We are pleased to confirm continued successful progress in implementing Elbit Systems UK's strategy. Elbit Systems UK already has an impressive footprint across the UK, providing a range of advanced systems for the UK Ministry of Defence. This re-organisation will allow us to guarantee and invest in the knowledge, skills and technical expertise required to support the British Armed Forces now, and in the future.

About Elbit Systems UK

Elbit Systems UK Ltd. holds three wholly owned subsidiaries as well as two joint ventures. In total, over 600 personnel are employed by the Elbit Systems UK companies in the UK, in high tech roles in the defence, aerospace and rail sectors. The two joint ventures were formed in order to deliver the Watchkeeper programme for the British Army and to supply and support three fleets of aircraft within the UK MOD Military Flying Training System (UKMFTS) programme. Elbit Systems UK is an established supplier to the UK Armed Forces, participating in several major Defence programmes such as Selborne, Morpheus and MEWSIC Increment 1, and delivering the Dismounted Joint Fires Integrator and Joint Fires Synthetic Trainer.

Dana Tal-Noyman

International Corporate Communications Manager

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.

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.