Elbit Systems subsidiary acquires General Dynamics Armament and Technical Products stake in UAS Dynamics, becomes sole owner

HAIFA, Israel, 2 Dec. 2011. Elbit Systems Ltd.’s (NASDAQ:ESLT) subsidiary, Elbit Systems of America LLC has become the sole owner of UAS Dynamics, a joint venture established by Elbit Systems of America and General Dynamics Armament and Technical Products (GDATP) to provide unmanned aircraft systems (UAS) to the U.S. market. Elbit purchased GDATP’s holdings in the company, which will become part of Elbit Systems of America's Unmanned Systems business unit, responsible for airborne and seaborne unmanned systems.

"The integration of UAS Dynamics with Elbit Systems of America's Unmanned Systems business unit will enable us to pursue opportunities associated with unmanned technologies and capabilities across multiple domains,” explains Raanan Horowitz, p and CEO of Elbit Systems of America, “and we will continue to look for opportunities to provide U.S. warfighters with innovative solutions that meet their diverse mission needs."