This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Elbit Systems Brazilian Subsidiary, AEL And Embraer Defesa E Segurança, Sign Agreement For The Entrance Of The Brazilian Company Avibras To Harpia

Stocks in this article: ESLT

HAIFA, Israel, February 6, 2013 /PRNewswire/ --

The companies will jointly pursue UAS projects in Brazil

Avibras' Falcão UAS project will be included in Harpia's portfolio

Elbit Systems Ltd. (NASDAQ and  TASE: ESLT) ("Elbit Systems") announced today that its subsidiary in Brazil, AEL Sistemas S.A. ("AEL"), and Embraer Defesa e Segurança S.A. ("Embraer Defesa") have signed an agreement for the entrance of Avibras Divisão Aérea e Naval S.A. ("Avibras") as a shareholder of Harpia Sistemas S.A. ("Harpia"), envisaging joint collaboration on Unmanned Aircraft Systems ("UAS") in Brazil. According to the agreement, Avibras will hold a 9% stake of the shareholdings in Harpia, resulting in AEL owning 40% of Harpia's shares, with Embraer Defesa remaining as the major shareholder, with 51% of the shares.

The agreement signed among the three companies establishes that Avibras' Falcão UAS project will be included in Harpia's portfolio, reinforcing the national content of the partnership. Falcão is being developed by Avibras for the use of the Brazilian Armed Forces and is intended to carry out reconnaissance missions, target acquisition, 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 Defense Company," said Luiz Carlos Aguiar, President of Embraer Defesa and Harpia Chairman of the Board. "In addition, Harpia will be enhanced by the technical competence of Avibras."

"The synergy of technical and industrial expertise of the three Harpia partners in addition to the legacy of high technological content of the Falcão UAS project, will result in a solution of an UAS of high competitiveness in Brazil and abroad," said Sami Hassuani, President of Avibras.

"Avibras brings to Harpia the best of the know-how that has been developed autonomously in Brazil for UAS to date, making Harpia, that already benefits from the extensive capabilities of Embraer Defesa and AEL, a company with all necessary elements for the success of the development in Brazil of latest generation UAS to meet the needs of our country," said Shlomo Erez, Director General of AEL.

About AEL

AEL Sistemas S.A. ( is a Brazilian company with headquarters in Porto Alegre. For more than two decades it has been engaged in the design, development, manufacturing, maintenance and logistic support of military and civilian electronic products, for applications for air, sea and land vehicles, manned and unmanned. In 2001, AEL Sistemas became a subsidiary of Elbit Systems Ltd., the largest non-government-owned defense company in Israel, and in 2011 Embraer Defesa and Security acquired a 25% interest in AEL.

About Embraer   Defesa

With more than 40 years of experience in the supply of platforms and superior systems to the Armed Forces of the entire world, Embraer Defesa e Segurança S.A has growing presence in the global market and plays a strategic role in the Brazilian defense system. Embraer´s Defesa portfolio includes military aircraft, last radar generation technologies, unmanned air vehicles (UAV) and advanced information and communication systems such as the applications of Command, Control, Communication, Intelligence, Surveillance and Reconnaissance (C4ISR). Embraer´s aircraft and military solutions are present in more than 50 Armed Forces of 48 countries.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs