TEL AVIV Feb 6 Israeli defence electronics firm
Elbit Systems said its subsidiary in Brazil, AEL
Sistemas, and Embraer Defesa e Segurança signed an agreement for
the entrance of Avibras Divisao Aerea e Naval as a shareholder
in Harpia Sistemas.
Avibras will hold a 9 percent stake in Harpia, resulting in
AEL owning 40 percent of Harpia's shares and Embraer Defesa
remaining as the major shareholder, with 51 percent, Elbit
said on Wednesday.
Financial details were not disclosed.
The agreement, which envisages joint collaboration on
unmanned aircraft systems (UAS), establishes that Avibras'
Falcao UAS project will be included in Harpia's portfolio.
Falcao is being developed by Avibras for the use of the
Brazilian armed forces and is intended to carry out
reconnaissance missions, support for firing direction, damages
evaluation and land and sea surveillance.
"The entrance of Avibras increases the national
participation in Harpia, which now complies with all
requirements to be a strategic defence company," said Luiz
Carlos Aguiar, president of Embraer Defesa and Harpia chairman.
Elbit, Israel's largest non-government owned defence
company, owns 75 percent of AEL while Embraer Defesa, part of
Embraer, holds 25 percent.