IAI, PGZ announce cooperative aviation marketing agreement

July 24 (UPI) -- Israel Aerospace Industries and Polska Grupa Zbrojeniowa S.A., or PGZ, are teaming to market aviation products and platforms, the companies announced last week.

The teaming, another step towards establishing a business partnership between PGZ, IAI Ltd. and IAI subsidiary ELTA Systems Ltd., comes under a recent Memorandum of Understanding.

"The Memorandum of Understanding which we have just signed opens a prospect of acquiring new industrial competencies by the Polish Armaments Group and using them not only for technical modernization of the Polish Armed Forces, but also in other business projects ensuring the security of the allied countries," Blazej Wojnowicz, the president of the Management Board of PGZ, said in a press release.

"The possibilities of cooperation between PGZ and IAI are very wide. They also comprise transfer of innovative aerial technologies to PGZ companies. The business forecasts of potential implementation of joint projects give reason for optimism."

The MOU covers tactical loitering unmanned aircraft systems, aerial reconnaissance systems, electronic warfare systems multi-mission transformer tankers, among other things.

The companies will cooperate in promoting and marketing products and engage in the licensed production of equipment for various modernization projects in Poland. The two will also review Poland's modernization programs for supply of IAI solutions.

"We are eager to take our business in Poland to the next level with our partners from PGZ," said Joseph Weiss, IAI's president and chief executive officer. "We are certain that the partnership will be a long-term, strategic one, combining the advanced technological capabilities of IAI and the PGZ companies. The synergy will provide solutions for the modernization of the Polish army and contribute to the Polish economy and security".