from the June 2008 issue

IAI signs with India's Tata on joint venture

Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) has signed a framework cooperation agreement with India's Tata Industries Ltd. for the joint development, manufacturing, marketing and support of defense products in India. IAI president and CEO Itzhak Nissan and Tata Sons chairman Ratan N. Tata signed the agreement.

The cooperation agreement between IAI and Tata Advanced Systems Ltd. covers a wide range of defense and aerospace products, including missiles, UAVs, radars, electronic warfare (EW) systems and homeland security systems. The companies will sign an agreement for the establishment of a joint venture in India shortly.

IAI is also in negotiations with the Indian government for the delivery of air defense systems. The $1.5 billion deal includes missiles, unmanned aerial vehicles (UAV), satellites, planes, and homeland defense technologies.

Reprinted from the Israel High-Tech & Investment Report June 2008

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