SAO PAULO, Feb. 6 (UPI) -- Brazilian engineering company Avibras Air and Naval Division Inc. is joining the capital structure of Harpia Systems for marketing unmanned aerial systems.
Avibras specializes in engineering that conceptualizes, develops and manufactures products for the defense and civilian markets, including artillery rocket systems, autonomous and guided missiles, anti-aircraft defense systems and unmanned aircraft systems.
Luiz Carlos Aguiar, president of Embraer Defense and Security and chairman of the board of directors of Harpia, said, "Avibras' participation increases domestic shareholding in Harpia Systems, which will now meet all requirements of a Strategic Defense Company, in accordance with (Brazilian) Law 12.598."
"In addition, Avibras will bring additional technical competence to Harpia."
Embraer Defense and Security is the majority stakeholder in Harpia Systems and with the inclusion of Avibras will own 51 percent of Harpia. AEL Systems, a Brazilian subsidiary of Israel's Elbit Systems Ltd., and another Harpia shareholder, will control 40 percent. Avibras will hold the remaining shares.
"Avibras brings to the company the best in know-how that was developed independently in Brazil regarding unmanned aircraft," said Shlomo Erez, president of AEL Systems, Inc. "This makes Harpia, which already enjoyed the extensive capabilities of Embraer and AEL, a company that brings together all elements necessary for the successful development in Brazil of state-of-the-art UAS that will meet our country's needs."
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