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European Advanced Technology (EAT), an IAI Subsidiary, has Acquired Minority Holding in the Brazilian Company ‘Avionics Services’

Written by thomas · Filed Under Aeronautics News 

July 20, 2014

thomas

July 16, 2014 – 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.”

João 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.”

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