Published on : Wednesday, February 6, 2013
Embraer Defense and Security and its affiliate AEL Systems, Inc., a subsidiary of the Israeli company Elbit Systems Ltd., announce the entrance of Avibras Air and Naval Division, Inc., in the capital structure of Harpia Systems, Inc., so as to jointly develop the market for unmanned aircraft systems in Brazil. As a result, Avibras will hold a 9% stake of the company, whereas AEL Systems will hold 40%. Embraer Defense and Security will remain the majority shareholder, with 51%.
By the agreement between the three companies, Harpia will also have the Falcão Project in its product line, which will increase national content to the partnership. Avibras is developing the Falcão for the use of the Brazilian Air Force. It will be able to perform reconnaissance, target acquisition, directional shooting support, damage assessment, and ground and sea surveillance missions.
“Avibras’ participation increases domestic shareholding in Harpia Systems, which will now meet all requirements of a Strategic Defense Company, in accordance with Law 12.598,” said Luiz Carlos Aguiar, president of Embraer Defense and Security and Chairman of the Board of Directors of Harpia. “In addition, Avibras will bring additional technical competence to Harpia.”
“The synergy of the technical competences of Harpia’s three affiliates, added to the Falcão Project and its legacy of high domestic technological content, will result in a highly competitive UAS solution in Brazil and abroad,” said Sami Hassuani, President of Avibras.
Source: Embraer
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