Israel Aerospace signs major Indian deals

IAI CEO Joseph Weiss
IAI CEO Joseph Weiss

IAI has signed new deals worth hundreds of millions of dollars in UAVs, air defense and radar systems.

At the conclusion of last week's defense exhibition ‘Defexpo' 2016 in Goa, India this week, Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) announced that it has finalized new sales worth hundreds of millions of dollars in Unmanned Aerial Systems (UAS), air defense and radar systems, among others.

Top IAI executives participating in the event met many of the senior leadership of India's defense and security organizations. Joseph Weiss, President and CEO of IAI opened the Israeli pavilion at Defexpo 2016 on behalf of Israel's defense companies.

Weiss said, "The sales signed in the past months strengthen India's position as a major partner of IAI. India has unique operational requirements, and IAI is dedicating its best talents, technologies and capabilities to meet those challenges. We will continue our long-term, strategic partnership with India, meet our customers' expectations and implement the ‘Make In India' policy led by India's Prime Minister."

At the event IAI displayed advanced systems of interest to Indian customers, many of them operationally proven in India. Among the new systems introduced were radar systems providing early warning against mortar attacks and improvised explosive charges (IEDs).

IAI has been operating and selling advanced defense products to the Indian Ministry of Defense and other government organizations for the past 25 years, through a strategic partnership that spans many areas. Over the years, IAI has established subcontracting, cooperation agreements and joint ventures with numerous Indian companies and expanded its operation and cooperation with military branches, navy and air force, coast guard, border security and other agencies.

This cooperation also encompasses joint research and development, for example in the Barak-8 air defense system, in its naval and land-based configurations, radar systems, unmanned systems and more.

Published by Globes [online], Israel business news - - on April 3, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

IAI CEO Joseph Weiss
IAI CEO Joseph Weiss
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