Israel/Palestine
Related: About this forumIsrael Aerospace sells $1.1 billion arms to Asian nation
Israel Aerospace Industries (IAI) will sell weapons systems worth more than $1.1 billion to an Asian country over the next four years, the state-owned defense contractor said on Monday.
The sale includes IAI aircraft, missiles and intelligence technologies, an Israeli defense industry source told Reuters. It is the company's most lucrative deal since the Indian navy bought an aerial defense system for $1.1 billion in 2009.
IAI also develops military and commercial aerospace technology, including communications satellites, and unmanned air systems. Like other Israeli firms, it was hit by the government's suspension last year of defense exports to Turkey after diplomatic feuding frayed a once-strong alliance.
Israel plans a public offering of 20-30 percent of IAI, its biggest defense contractor, this year, the Finance Ministry said in April.
http://in.reuters.com/article/2012/01/09/us-israel-aerospace-idINTRE8080D920120109
Good for them. This is going to be a great public offering. I may buy some stock in the company as well.
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Little Tich
(6,171 posts)Source: UPI
TEL AVIV, Israel, Jan. 10 (UPI) -- Israel Aerospace Industries has signed a four-year, $1.1 billion deal with India for aircraft, missiles, unmanned aerial vehicles and intelligence systems, a major boost for the Jewish state's high-tech defense sector in an increasingly export-driven global market.
Ironically, Chief Executive Officer Yitzhak Nissan, who negotiated the contract, has been sacked in an internal squabble with IAI Chairman Dov Baharav, appointed in June 2011 to head the state-owned flagship of the defense industry amid widespread speculation of plans to privatize it.
IAI announced to the Tel Aviv Stock Exchange Monday it had signed the $1.1 billion deal with "an Asian country." Without explanation, it neither named the country nor specified what military systems were involved.
But the Globes business daily identified the customer as India and said the systems included missiles, UAVs and intelligence technologies. Other sources said aircraft were also involved but gave no details.
http://www.upi.com/Business_News/Security-Industry/2012/01/10/IAI-clinches-1-billion-India-arms-deal/UPI-73351326225766/
I almost knew it was India as soon as I read it. Israel and India have been very friendly recently.
vminfla
(1,367 posts)And I know that Singapore is another large IAI customer as well.
holdencaufield
(2,927 posts)Quite a few of the Israelis here are consultants to the SAF.
vminfla
(1,367 posts)We all do not share the same common background.
Little Tich
(6,171 posts)US technology through the backdoor, but the whole deal is probably a very good one regardless. India already has a few Heron UAVs, but seems to want more, if the UAVs mentioned in the article are indeed Herons.
India has a history of mix-and-match weapons systems from different countries, a strategy which is cheaper but less reliable. With this deal India and Israel are forming a strong bond, but will it last? Time will tell.
