Rafael buys 40% stake in Brazilian aerospace co

The acquisition of GESPI Aeronautics will deepen Rafael's presence in Brazil's homeland security and defense market.

Rafael Advanced Defense Systems Ltd. has announced the acquisition of a 40% stake in the Brazilian aerospace company GESPI Aeronautics. The acquisition will deepen the Israeli government owned defense company's presence in the growing Brazilian homeland security and defense market.

The two companies formally announced the acquisition on Tuesday at the LAAD Security 2012 conference in Rio de Janeiro.

Based in Sao Jose dos Campos near Sao Paulo, GESPI has been operating in Brazil’s civil and security sector for over 20 years, serving the local military forces.

Rafael vice president marketing Lova Drori said, "The acquisition of GESPI will allow us to implement the strategic policy of the Brazilian government for the transfer of advanced technology and expertise to projects of the Ministry of Defense of Brazil and various security agencies of production site, providing employment opportunities and export to other countries."

The companies did not disclose the amount of the deal.

Published by Globes, Israel business news - www.globes-online.com - on April 11, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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