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News Breaks | | | | February 6, 2013 | | 06:15 EDT |  | ESLT | Elbit Systems' Brazilian subsidiary and Embraer Defesa sign agreement
Elbit Systems' subsidiary in Brazil, AEL Sistemas, and Embraer Defesa e Segurança S.A. have signed an agreement for the entrance of Avibras Divisão Aérea e Naval as a shareholder of Harpia Sistemas, envisaging joint collaboration on Unmanned Aircraft Systems in Brazil. 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 among the three companies establishes that Avibras' Falcão UAS project will be included in Harpia's portfolio. Falcão is being developed by Avibras for the use of the Brazilian Armed Forces. | |
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