Israel Livnat, Israel Aircraft Industries (IAI's) Corporate Vice President and President of IAI's Group & 
Subsidiary Elta Systems Ltd., was awarded on behalf of Elta, with the Israeli Industry Prize for 2004. The Prize, awarded by the Israel Manufacturers Association, was presented to Israel Livnat and three other industry leaders in the presence of Prime Minister Ariel Sharon, Vice Prime Minister and Minister of Industry, Trade, Employment and Communications, Ehud Olmert, Minister of Finance Benjamin Netanyahu and Oded Tira, outgoing president of the Manufacturers Association.
The judges' committee for the Industry Prize cited Israel Livnat and said: "the prize is awarded as a token of appreciation for Livnat's winning industrial activity, which encompasses creative engineering, management vision, leadership and extraordinary performance. Elta Systems has achieved recognition throughout the world, which has positioned it and its parent company, IAI, in the highest echelons of technology. Elta Systems has proven its ability in providing comprehensive solutions to the defense market's needs both domestically and internationally, and has contributed to the Israeli export efforts."
During 2004, Elta Systems signed new contracts in the amount of $1.3 billion, as compared to $362 million in 2003. The backlog of orders for 2004 is expected to total approximately $2 billion, as compared to $1.3 billion last year. Elta's sales for year 2004 is expected to total approximately $540 million, which represents approximately $200,000 sales per employee, as compared with $482 million sales in 2003, an increase of 12 percent. Elta Systems employs 2800 employees; approximately 1200 (46%) have university degrees.
Israel Livnat, IAI's Corporate VP and President of Elta Systems said at the ceremony: "I am proud to receive this important and prestigious award on behalf of Elta's employees and managers. Each year we prove that diligent work, investment in R&D and cultivating excellence, results in the ability to provide competitive solutions to our customers, both in Israel and abroad. This year we have increased significantly the amount of new orders, and our backlog of orders will provide us with steady work until at least 2008."
Elta Systems Ltd., a Group and Subsidiary of Israel Aircraft Industries (IAI), specializes in a wide variety of defense electronic systems and products.
Elta Systems products are designed for intelligence, surveillance and reconnaissance, early warning and control, self-protection and self-defense, target acquisition and fire control applications.
Photo: At the Industry Award ceremony (left to right): Oded Tira, outgoing Manufacturers Association president, Ehud Olmert, Vice Prime Minister and Minister of Industry, Trade, Employment and Communications, Michael Strauss, President of the Strauss-Elite concern, and Israel Livnat.