IAI Israel Aerospace Industries intensifies effiort to penetrate Brazil Defence market LAAD 1604133.

LAAD 2013
International Defense & Security Exhibition
9 - 12 April 2013
Rio de Janeiro, Brazil

During the international defense and security LAAD exhibition, which is currently underway in Rio de Janeiro, Israel Aerospace Industries' (IAI) group and subsidiary ELTA Systems Ltd. intensifies efforts to penetrate the Brazilian defense market by signing an agreement of investment and cooperation with electronic company IACIT.

The agreement, signed by ELTA's subsidiary LARDOSA, includes exchange of knowledge between professional teams, investment in laboratories and factories, intellectual property agreements in both directions and, especially, product support guaranteed by IACIT.

The agreement also includes training of IACIT personnel for manufacturing, installation and support of ELTA products in the Brazilian market.
The partnership's target markets are defense and public security projects primarily for the Brazilian market, which may potentially extend to international markets in the future.

ELTA is a major defense electronics company, providing a wide spectrum of systems in the field of radars, special mission aircraft, ISTAR (Intelligence, Surveillance, Target Acquisition and Reconnaissance), electronic warfare and communication.
IACIT is a defense electronics company operating in the fields of defense, radar meteorology, control, automation, communication and information technology.

Joseph Weiss, IAI's President and CEO and ELTA's Chairman said: "We view Brazil as one of our key markets. Our investement in IACIT is an expression of our enduring committment to support Brazilian customers. We will continue to invest in Brazil also in other segments."

"This agreement will lead IACIT to an unprecedented technological advancement in the Brazilian industry and will assist us in meeting the important defense projects' needs in Brazil," said IACIT President, Luiz Teixeira. "By relying only on our own technological development, IACIT could not have provided its solutions required by the market on schedule. This partnership increases our portfolio and places the company on a heightened technological level, which otherwise would have required years of execessive investment," Teixeira said.