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Article: Elbit Systems Completes the Acquisition of the Assets of Israel Military Industries' Aircraft Systems Division.
- Article from:
- PR Newswire
- Article date:
- March 27, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Haifa, Israel, March 27 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. announced today, further to its announcement dated January 4, 2004, that its wholly-owned subsidiary Cyclone Aviation Products Ltd. ("Cyclone") completed today the acquisition of the assets of Israel Military Industries Ltd. ("IMI") Aircraft Systems Division (the "Aircraft Division") in Tirat Hacarmel, Israel for the price of approximately $7 million, a portion of which will be paid in cash and the balance through assumption of obligations of the Aircraft Division. The final purchase price is subject to adjustments. The transaction will be made through a wholly-owned subsidiary of Cyclone.
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