Aeronautics UAV sign cooperation agreement with EADS
The agreement comes after the failure of a similar agreement with Israel Aircraft Industries.
Dror Marom 21 Oct 03 18:00
Yavne-based Aeronautics UAV Systems has signed a cooperation agreement with European Aeronautic Defence and Space Company (EADS), Aeronautics UAV CEO Avi Leumi told "Globes". EADS is the world's second-largest aerospace company.
The agreement with EADS comes after the failure of a similar agreement with Israel Aircraft Industries (IAI) over mutual recriminations and allegations of dishonesty.
The seven-year IAI-Aeronautics UAV Systems agreement was supposed to lead to joint marketing of Unmanned Aerial Vehicles (UAVs). IAI also hoped to add Aeronautics UAV's AeroStar UAV to its basket of products. AeroStar is smaller and cheaper than IAI's UAVs, which cost $2-3 million each. IAI also had an option to acquire 26% of Aeronautics UAV from its co-owners Leumi and Moshe Caspi.
Published by Globes [online] - גלובס זירת העסקים של ישראל
- on October 21, 2003