IAI CEO sees more Brazilian deals

Joseph Weiss: Israel Aerospace Industries already has a number of business proposals that are currently under review.

" Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) is actively pursuing cooperation with local industries in Brazil," said president and CEO Joseph Weiss ahead of the LAAD International Defense and Security Exhibition in Rio de Janeiro next month.

Weiss added, "To foster collaboration and cooperation, we intend to integrate into the Brazilian defense and security markets by working on strengthening our ties with local industries. We already have a number of business proposals which are currently under review.

Weiss will head the IAI delegation to the LAAD Exhibition, where the company will display satellite technologies, drones, mission aircraft, intelligence systems, homeland security products, integrated maritime solutions, such as the Barak 8 air defense system, radars, and command and control systems. The IAI delegation will hold business meetings with defense, military and industrial officials.

Earlier this month, IAI won a Brazilian Air Force tender to convert several Boeing 767-300 aircraft into air-to-air refueling tanker. Brazil's Federal Police operates IAI Heron unmanned aerial vehicles (UAV), and the Brazilian government uses IAI command and control systems to provide decision-makers with real-time snapshots of events occurring in various territories. Weiss added, "We hope in the coming period to announce further developments."

Published by Globes [online], Israel business news - www.globes-online.com - on March 28, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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