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Elbit systems on hunt for acquisitions in U.K
Israeli aerospace and defence company is interested in buying UK assets and is undeterred by Brexit
Elbit Systems's Hermes 900 surveillance drone
JULY 11, 2016 by: John Reed in Tel Aviv
Elbit Systems, the Israeli aerospace and defence company, says is on the hunt for acquisitions and is prepared to spend “hundreds of millions of dollars”, including in the UK, where it is undeterred by Brexit.
Bezhalel Machlis, Elbit’s chief executive, told the Financial Times that the group — which already employs about 500 people at five UK companies — was prepared to add jobs as part of its acquisition drive.
“I am looking to enhance and expand our activities in the UK,” said Mr Machlis. “We are looking for acquisitions. I think we can do more in the UK: we can create more jobs, bring new technologies.”
A RAF Watch keeper surveillance drone, built in cooperation with Elbit.
Elbit makes surveillance drones, among other things, and produces the Watchkeeper unmanned aerial vehicle in Britain in a joint venture led by Thales UK.
In February, the Israeli company won a £500m UK government contract in partnership with KBR of the US to train British fighter pilots over an 18-year period.
Mr Machlis said Britain’s vote to leave the EU in a referendum last month would not affect Elbit’s plans.
“After the Brexit, the UK market remains a strategically important market for Elbit Systems, and we will continue to invest in it,” he added.
Martin Fausset Appointed as the CEO of Elbit Systems UK
In March, Elbit named Martin Fausset, who previously held senior jobs at Leonardo’s AgustaWestland, Rolls-Royce and Ricardo, as head of its UK subsidiary.
Mr Machlis did not specify the countries other than the UK where Elbit was seeking to buy companies, but said the group was looking in “complementary areas” to ones where it was already active in Israel, including commercial cyber security and defence electronics.
In Israel, Elbit is bidding for Israel Military Industries, the state-owned armaments maker whose best-known product is the Uzi submachine gun.
Elbit reported an order backlog worth $6.8bn at the end of the first quarter, bolstered by rising defence budgets in Europe, the US and elsewhere, amid increasing concerns about migration, terrorism, and the military threat from Vladimir Putin’s Russia.
Related article
Armed for expansion in the face of global uncertainty
Israeli defence company Elbit is buoyed by increased defence spending because of unsettled outlook
Outside Israel and Europe, Elbit also has companies in the US — where it is producing a new fighter pilot helmet for the military together with Rockwell Collins — and Latin America, South Korea, India, and Australia.
Last year Elbit pushed into new activities by buying the cyber and intelligence division of Israel’s Nice Systems for $158m.
Like some other big Israeli companies, Elbit has been targeted by campaigners from the Boycott, Divestment and Sanctions movement that protests against Israel’s occupation of Palestinian lands.
Pro-Palestinian activists have on several occasions temporarily disrupted work at Elbit’s UK factories.
However, Mr Machlis played down the threat to the company from such campaigners. “I’m not saying it’s not a threat, but I think that altogether we can handle it,” he said.
https://www.ft.com/content/21efd38c-4520-11e6-9b66-0712b3873ae1
It's good to see that a Middle eastern country is advanced enough to transfer technology to western powers.
Relations between equals. Win-Win cooperation.
@DavidSling , @dani958 , @waz et al
Israeli aerospace and defence company is interested in buying UK assets and is undeterred by Brexit
Elbit Systems's Hermes 900 surveillance drone
JULY 11, 2016 by: John Reed in Tel Aviv
Elbit Systems, the Israeli aerospace and defence company, says is on the hunt for acquisitions and is prepared to spend “hundreds of millions of dollars”, including in the UK, where it is undeterred by Brexit.
Bezhalel Machlis, Elbit’s chief executive, told the Financial Times that the group — which already employs about 500 people at five UK companies — was prepared to add jobs as part of its acquisition drive.
“I am looking to enhance and expand our activities in the UK,” said Mr Machlis. “We are looking for acquisitions. I think we can do more in the UK: we can create more jobs, bring new technologies.”
A RAF Watch keeper surveillance drone, built in cooperation with Elbit.
Elbit makes surveillance drones, among other things, and produces the Watchkeeper unmanned aerial vehicle in Britain in a joint venture led by Thales UK.
In February, the Israeli company won a £500m UK government contract in partnership with KBR of the US to train British fighter pilots over an 18-year period.
Mr Machlis said Britain’s vote to leave the EU in a referendum last month would not affect Elbit’s plans.
“After the Brexit, the UK market remains a strategically important market for Elbit Systems, and we will continue to invest in it,” he added.
Martin Fausset Appointed as the CEO of Elbit Systems UK
In March, Elbit named Martin Fausset, who previously held senior jobs at Leonardo’s AgustaWestland, Rolls-Royce and Ricardo, as head of its UK subsidiary.
Mr Machlis did not specify the countries other than the UK where Elbit was seeking to buy companies, but said the group was looking in “complementary areas” to ones where it was already active in Israel, including commercial cyber security and defence electronics.
In Israel, Elbit is bidding for Israel Military Industries, the state-owned armaments maker whose best-known product is the Uzi submachine gun.
Elbit reported an order backlog worth $6.8bn at the end of the first quarter, bolstered by rising defence budgets in Europe, the US and elsewhere, amid increasing concerns about migration, terrorism, and the military threat from Vladimir Putin’s Russia.
Related article
Armed for expansion in the face of global uncertainty
Israeli defence company Elbit is buoyed by increased defence spending because of unsettled outlook
Outside Israel and Europe, Elbit also has companies in the US — where it is producing a new fighter pilot helmet for the military together with Rockwell Collins — and Latin America, South Korea, India, and Australia.
Last year Elbit pushed into new activities by buying the cyber and intelligence division of Israel’s Nice Systems for $158m.
Like some other big Israeli companies, Elbit has been targeted by campaigners from the Boycott, Divestment and Sanctions movement that protests against Israel’s occupation of Palestinian lands.
Pro-Palestinian activists have on several occasions temporarily disrupted work at Elbit’s UK factories.
However, Mr Machlis played down the threat to the company from such campaigners. “I’m not saying it’s not a threat, but I think that altogether we can handle it,” he said.
https://www.ft.com/content/21efd38c-4520-11e6-9b66-0712b3873ae1
It's good to see that a Middle eastern country is advanced enough to transfer technology to western powers.
Relations between equals. Win-Win cooperation.@DavidSling , @dani958 , @waz et al
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Lol
