IAI in $400m Russian UAV deal

Deliveries will be made over three years.

Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) has signed a $400 million contract to sell unmanned aerial vehicles (UAV) to Russia's open joint stock company OPK Oboronprom. Deliveries will be made over three years. The Russian authorities still have to approve the deal.

Oboronprom will pay IAI a $280 million down payment, and will pay the balance as the UAVs are delivered.

IAI will provide Oboronprom a bank guarantee against part of the payment. The guarantee will be reduced as deliveries of the UAVs progress.

Published by Globes [online], Israel business news - www.globes-online.com - on October 13, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Twitter Facebook Linkedin RSS Newsletters גלובס