Aerospace & Defense News - Defense Africa / Middle East.


Aug 2, 2009

Airbus, EADS

The Saudi Ministry of Defense and Aviation (MODA) has ordered three additional A330 Multi Role Tanker Transport (MRTT) aircraft, European aerospace company EADS said Monday. This brings to six the total order of the aircraft which are destined for the Saudi Air Force, the statement said. Delivery of the first plane is due in 2011. Financial terms of the contract, which also includes an in-service support package, were not disclosed. Jul 27, 2009

Elbit Systems, BVR Systems

Elbit Systems has signed an agreement to acquire the assets of Israeli training, simulation and debriefing specialist BVR Systems for a total of USD 34 million. The company develops and produces equipment for use by air, land and maritime forces. Jul 21, 2009

Elbit Systems, BVR Systems

BVR Systems (1998) Ltd., a diversified world leader in advanced military training and simulation systems, today announced, that it has signed an agreement with Elbit Systems Ltd., (Nasdaq: ESLT - News) pursuant to which BVR will sell substantially all of its assets to Elbit in consideration for a cash payment of USD 34,000,000. The purchase price is based on an assumption that the purchased projects are balanced (i.e., payments received for each project are consistent with its stage of execution). The purchase price is subject to adjustment at the closing in the event that it is determined that any of the projects are not balanced. Additionally, the amount payable at closing will be reduced by a further USD 1,500,000, which will be held in escrow for a period of 120 days, during which time Elbit will be entitled to conduct a final review into the status of the projects acquired, and in the event that any are not balanced, it will be entitled to receive up to the amount held in escrow. Further, as part of the...

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