from the February 2016 issue

Lockheed Martin orders 40 F-35 wing sets from IAI IAI unveils civil aviation cyber security solutions

"Working with the international aviation giant is significant recognition of IAI's technological capabilities," company management said, following the agreement with Boeing. "Boeing's vote of confidence in us is also very significant for us."

Cooperation between Boeing and IAI began 40 years ago, and IAI is considered one of the US company's strategic suppliers. Company sources said that IAI's current manufacturing infrastructure was also suitable for Boeing's future airliner venture, so that it does not appear that any substantial investment in adapting IAI's production lines to the new plane will be necessary.

It is still unclear how the agreement to extend cooperation with Boeing will affect IAI's civilian business. Since 2009, the company's civil aviation division, which converts civilian airplanes and makes executive jets, has accumulated losses totaling $230 million. Following its accumulated losses and deteriorating financial situation, IAI is negotiating with the workers' organization in the company in an attempt to reach agreements on a comprehensive recovery plan.

IAI management is seeking understandings involving voluntary retirement for 1,000 workers, mostly from the civilian divisions, which have been responsible for most of the company's burdensome losses.

With offices in Herzliya, in 2016 alone Battery has been part of the $50 million financing rounds of Israeli startups JFrog, Zerto and SiSense.

Reprinted from the Israel High-Tech & Investment Report February 2016

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