Mahindra & Mahindra : Elbit Systems–Cyclone & Mahindra Aerostructures to Collaborate On Manufacturing Opportunities in Aerostructures

Le Bourget, June 21, 2017: A Memorandum of Understanding to collaborate on the production of aerostructures parts and assemblies was signed at the Paris Air Show today, between Elbit Systems-Cyclone ('Cyclone') of Israel and Mahindra Aerostructures ('Mahindra') of India.

Under this arrangement, Cyclone will source content for their existing work packages from Mahindra, and the two companies will also team up on new work opportunities, leveraging each other's strengths, capacities and capabilities.

Mahindra currently operates a large aerostructures manufacturing facility near Bengaluru. The plant produces parts for its global customer base, which includes reputed OEMs and Tier 1s, and is also exporting primary structural assemblies for the Mahindra Airvan 8 aircraft.

Cyclone, a wholly-owned subsidiary of Elbit Systems Ltd., serves as Elbit Systems' design and manufacturing centre for composite and metal structural aircraft assemblies and parts for leading aerospace companies and OEMs. Cyclone's prestigious customer base includes Boeing (commercial and military), Bombardier, Lockheed Martin, Northrop Grumman, Spirit Aerosystems, Sikorsky, Textron Aviation, Triumph and others. Over the last five decades, Cyclone has designed and produced unique assemblies for civil and military aircraft.

Mr. S P Shukla, Chairman, Mahindra Aerospace and Group President-Aerospace & Defence, Mahindra Group, observed that 'Both entities are part of large business houses with diversified yet complementary interests in Aerospace & Defence. With this first step of collaboration, we expect to offer robust and cost-effective options for global customers, and also address the Make in India initiatives of the Indian Government.'

'Mahindra Aerospace has always believed in the power of collaboration within the industry to provide our customers with best-cost solutions that creatively combine our capabilities and technical strengths,' said Mr. Arvind Mehra, Executive Director & CEO of Mahindra Aerospace (parent of Mahindra Aerostructures). 'Cyclone and Mahindra have a lot to offer to each other, and we are bullish on the potential of our journey together' he added.

Mr. Yoram Shmuely, Executive Vice President and General Manager of the Aerospace Division, Elbit Systems, commented: 'We are focused on satisfying our customers, and we strongly believe that this cooperation will provide solutions of optimal affordability'.

'Cyclone has worked continuously to expand its foot print in new markets to meet its growth goals. The agreement with Mahindra is a step forward in that direction, and we are eager to build upon this partnership to provide more value to our combined customer-base. With this collaboration, we anticipate expanding our activity in India' explained Mr. David Vidan, General Manager of Elbit Systems-Cyclone.

About Elbit Systems-Cyclone (http://elbitsystems.com/cyclone)

Elbit Systems-Cyclone Ltd. (Cyclone) is a wholly-owned subsidiary of Elbit Systems Ltd. Cyclone is Elbit Systems' design and manufacturing center for composite and metal aircraft structural assemblies and subassemblies for leading aerospace companies and OEMs.

Cyclone holds special processes certifications and equipment qualifications from NADCAP as well as from leading OEMs such as: Boeing (commercial and military), Bombardier, Lockheed Martin, Northrop Grumman, Spirit Aerosystems, Sikorsky, Textron Aviation, Triumph and others. From flight control and aerodynamic surfaces to doors and specialized aircraft parts, Cyclone's assembly line and part production programs cover a wide range of Aerostructure products.

About Elbit Systems (www.elbitsystems.com)

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 and cyber-based systems. The company also focuses on the upgrading of existing platforms, developing new technologies for commercial aviation systems and Aerostructure, defense, homeland security and commercial applications providing a range of support services, including training and simulation systems.

For additional information, visit www.elbitsystems.com or follow us on Twitter.

About Mahindra Aerospace (www.mahindraaerospace.com)

Mahindra Aerospace leads the Mahindra Group's interests in aerospace manufacturing. In aerostructures, Mahindra Aerospace operates a large plant in India with comprehensive capabilities for sheet metal parts, surface treatment and assemblies - soft alloys at present, soon to include hard alloy components capability. With numerous OEM / customer approvals, the business has ramped up steeply on production since January 2015, and is exporting parts and assemblies to customers worldwide. Mahindra's aircraft business in Australia produces the Airvan 8, the most capable, rugged and versatile utility aircraft in its class. Certified in over 38 countries, over 200 Airvan 8s are in service.

About Mahindra (www.mahindra.com)

The Mahindra Group is a USD 19 billion federation of companies that has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world's largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 200,000 people across 100 countries.

Learn more about Mahindra on Twitter and Facebook: @MahindraRise

Media contact information:

Dalia Rosen
VP, Head of Corporate Communications
Elbit Systems Ltd.
Tel: +972-4-8316784
Dalia.Rosen@elbitsystems.com

Shubhada Dharwadkar
Group Communications
Mahindra & Mahindra Ltd.
Tel: +91-22-24901441
dharwadkar.shubhada@mahindra.com