Police probe Aeronautics

Aeronautics Orbiter

Israeli UAV company Aeronautics is suspected of corruption in a major deal.

Restrictions were lifted today on reporting that another Israeli arms deal may be tainted by corruption. Aeronautics Ltd. (TASE: ARCS) is under investigation by Israel Police in connection with a deal with a substantial customer.

The details of this intriguing and important investigation, including the identities of the suspects, remain under a gag order.

Aeronautics said in a statement: "The company will cooperate fully with any examination of any matter and will do its best to ensure that the investigation will be as short as possible."

Aeronautics develops and produces advanced intelligence systems, chiefly using UAVs (drone aircraft). Its head office is in Yavne.

In April 2013, Col. (res.) Amos Mathan was appointed CEO of the company. Mathan was previously CEO of Soltam. The chairman of Aeronautics is former Israel Air Force commander Gen. (res.) Eytan Ben-Eliyahu.

Published by Globes [online], Israel business news - www.globes-online.com - on November 14, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Aeronautics Orbiter
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