facebook
twitter
rss
account
search
search
 

Israelis, Brazilians form electronics partnership

April 12, 2013 at 12:12 PM   |   Comments

RIO DE JANEIRO, April 12 (UPI) -- Israel Aerospace Industries and subsidiary ELTA Systems Ltd. have teamed with Brazil's IACIT, an electronics company, to grow their business in Brazil.

The agreement of investment and cooperation, signed by ELTA subsidiary LARDOSA, covers the exchange of technical knowledge, investment in laboratories and factories, mutual intellectual property agreements and product support.

IACIT personnel would also be trained for the manufacture of Elta products in Brazil for defense and public security markets.

"We view Brazil as one of our key markets," said Joseph Weiss, IAI's president and chief executive officer and ELTA's chairman. "Our investement in IACIT is an expression of our enduring commitment to support Brazilian customers.

"We will continue to invest in Brazil also in other segments."

IACIT President Luiz Teixeira said the deal will lead his company to "an unprecedented technological advancement" for the company and Brazil.

"This partnership increases our portfolio and places the company on a heightened technological level, which otherwise would have required years of excessive investment," he said.

IACIT is a defense electronics company, as is Elta.

The announcement of partnership was made at the LAAD defense and security exhibition in Rio de Janeiro.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Russian bank boss feeling sanctions pain Russian bank boss feeling sanctions pain
2
New Navy sub ready for outfitting, testing New Navy sub ready for outfitting, testing
3
No means yes for Scotland, energy companies say No means yes for Scotland, energy companies say
4
Army deploying JLENS radar system to help protect Washington, D.C. Army deploying JLENS radar system to help protect Washington, D.C.
5
EIA: Russia diversifying energy production EIA: Russia diversifying energy production
Trending News
Video
x
Feedback