December 15, 2010 / 7:59 AM / 9 years ago

Elbit Systems buys M7 Aerospace for $85 mln

TEL AVIV, Dec 15 (Reuters) - Israeli defence electronics company Elbit Systems (ESLT.O) (ESLT.TA) said on Wednesday its subsidiary Elbit Systems of America acquired M7 Aerospace LP for $85 million in cash to expand its aviation support capabilities.

Texas-based M7 Aerospace provides aviation services such as aerostructure manufacturing, government logistics support services, maintenance, repair and overhaul, engineering services and aircraft parts and support.

M7 Aerospace will become part of Elbit Systems of America’s (ESA) offerings of support to fleets operated by the U.S. military as well as to commercial customers.

“This acquisition complements the breadth and depth of ESA’s experience in the support and maintenance of aircraft both domestically and worldwide and we hope it will open the door to new customers and projects,” Elbit Systems of America President and CEO Raanan Horowitz said in a statement. (Reporting by Tova Cohen; Editing by Jon Loades-Carter)

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