General Dynamics will help market Aeronautics Defense Systems' products.
Israeli company Aeronautics Defense Systems announced today that it had signed a strategic cooperation agreement with US arms giant General Dynamics (NYSE:GD). Under the agreement, General Dynamics will help market Aeronautics Defense Systems' products, especially unmanned aerial vehicles (UAVs) and unmanned patrol boats.
Aeronautics Defense Systems specializes in routine defense and security systems, including intelligence gathering ground stations for UAVs and unmanned patrol boats for the defense of wide areas, ports, and water reservoirs. Aeronautics Defense Systems declined to disclose details about the agreement or its share of revenue from the sale of its systems.
Aeronautics Defense Systems said that through this agreement, General Dynamics was entering the UAV industry for the first time.
Published by Globes [online] - www.globes.co.il - on February 19, 2004