News Column

IAI SUBSIDIARY EAT ACQUIRED MINORITY HOLDING IN BRAZILIAN 'AVIONICS SERVICES'

July 17, 2014



ENP Newswire - 17 July 2014

Release date- 16072014 - European Advanced Technology (EAT), an Israel Aerospace Industries' (IAI) subsidiary, has acquired minority holding in the Brazilian Company Avionics Services, located in Sao Paulo.

This acquisition is part of IAI's strategic expansion into the Brazilian defense market.

A cooperation agreement was also signed between IAI and Avionics Services to conduct the companies' joint activities in the Brazilian Defense market. This includes the marketing and manufacture of aircraft systems, Unmanned Aerial Systems (UAS), sensors and upgrades of aerial platforms. The cooperation agreement's main target markets are defense and public security projects primarily for the Brazilian market, which may potentially be extended to international markets in the future.

Avionics Services provides solutions for projects involving equipment and avionics systems for civil and military fixed and rotary wing aircraft as well as simulators. The company is defined as a strategic defense company (EED-Empresa Estrategica de Defesa) - a unique status granted by the Brazilian Ministry of Defense, and is also active in the international market.

In recent years, IAI has expanded its activities in Brazil and established 'IAI do Brasil' and its marketing headquarters in Brasilia. IAI has also invested in IACIT, a Brazilian radar company based in San Jose dos Campos, and cooperates with other key companies in the Brazilian defense market.

Joseph Weiss, IAI's President and CEO said: 'We view Brazil as one of our strategic markets and intend to expand our activities in this important region; our investment and cooperation with 'Avionics Services' are an expression of our ongoing commitment to support the Brazilian customers.'

Joao B. Vernini, CEO of Avionics Services said: 'We are very pleased and honored by IAI's faith in us and the investment in this cooperation. We believe that this agreement will allow us access to high-level technologies and to a broader defense market and that together we will enjoy an enhanced access to the Brazilian market.'

About European Advanced Technology (EAT)

European Advanced Technology (EAT) is an IAI subsidiary and holding company established in 1989. EAT manages technological cooperation and also serves as IAI's marketing headquarters in Europe.

About Israel Aerospace Industries (IAI)

Israel Aerospace Industries, Ltd. (IAI) is Israel's largest defense industry and a globally recognized leader for the defense and commercial markets. IAI provides unique and cost-effective technological solutions for a broad spectrum of needs in space, air, land, sea and homeland defense, including: maintenance and conversion of commercial aircraft, unmanned air and ground vehicles, radars, secure communications, AEW, EW, ELINT/ESM, SIGINT and COMINT/COMJAM, air-to-air refueling, upgrading of military aircraft and helicopters, optronic payloads, navigation, commercial satellites and launchers, mine detection, clearing and breaching systems and many other core technologies, products and services.

About Avionics Services

Avionics Services is a leading Brazilian company with over 18 years of experience in the Civilian and Military Markets. Avionics has specialized in development, certification and integration of any Avionics and systems as well Defense equipment The Company provides solutions for projects involving equipment and avionics systems for civil and military fixed and rotary wing aircraft as well as simulators. Avionics' excellence stems from an established heritage of high quality and safety, with very high customer satisfaction. Avionics Services is certified by ANAC, Brazilian Army, Air force and Navy obtains ISO-9001, NBR 15100/ AS9100 and defined as a strategic defense company (EED-Empresa Estrategica de Defesa).


For more stories covering the world of technology, please see HispanicBusiness' Tech Channel



Source: ENP Newswire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters