Acting Prime Minister, Minister of Finance, and Minister of Industry, Trade, and Labor, and head of a variety of other ministries Ehud Olmert is signaling that business will continue as usual. On Monday, he met with senior executives of BAE Systems (LSE: BA), one of the world’s largest defense companies, which has a subsidiary, BAE System Rokar International, in Har Hotzvim in Jerusalem. Olmert proposed that the company expand its activity in Israel. Rokar International has 100 employees in Jerusalem.
BAE Systems has 90,000 employees worldwide and annual sales of over $25 billion. The company’s headquarters is in the UK. BAE Systems controls Rokar International through its BAE Systems Inc. subsidiary in the US.
Rokar International develops, manufactures, and sells defense systems installed on Israeli Air Force airplanes and helicopters, and exports these systems to many air forces around the world. The company also develops, manufactures, and sells global positioning systems (GPS) for land-based, air, and outer space military applications.
During the meeting, Olmert said that he had known Rokar International since it was founded in 1982, and that he was monitoring its development, which was important for Israel. When Olmert was mayor of Jerusalem, he helped the company move its plant to the Har Hotzvim industrial zone.
Published by Globes [online] - www.globes.co.il - on January 11, 2006