Italy Buys Two Gulfstream G550 CAEW Early Warning and Control Aircraft
Released on Thursday, July 19, 2012
Israel Aerospace Industries' (IAI) President & CEO Joseph Weiss was one of the signatories this morning, of two contracts totaling $932 million.
As part of the Israel Ministry of Defense's agreement with the government of Italy, IAI will manufacture and supply to the Italian Air Force two G-550 Conformal Airborne Early Warning & Control Systems (CAEW), Ground Support Systems and logistical support package totaling $750 million.
Under an additional agreement with 'Telespazio' IAI will develop, manufacture and supply an observation satellite to the Italian company, worth $182 million.
Joseph Weiss, IAI's President & CEO, said: "Italy is an important European country and we are proud of strengthening our relationship with it. The Airborne Early Warning aircraft and the observation satellite are two of IAI's strategic products. Beyond the financial and occupational aspects, this deal represents a significant collaboration with the European industry".
Mr. Weiss thanked all parties involved in the execution of the deal, and especially to Mr. Udi Shani, Director General of Israel Ministry of Defense, who personally led the process.
Source: $932 Million - Total Amount of Israel Aerospace's (IAI) Contracts with Italy
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