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“Spetstechnoexport” develops cooperation with Elbit Systems
28.01.2019

January 22, 2019 - The leadership of the SE SFTE “Spetstechnoexport” as a part of the official Ukrainian delegation held a number of meetings with the leadership of the Israeli company Elbit Systems. As a result of acquaintance with the latest defense products of a foreign company, the Minister of Defense of Ukraine Stepan Poltorak expressed interest in in-depth cooperation with an Israeli company. A Memorandum of Cooperation was signed between the State Concern "Ukroboronprom" and Elbit Systems Ltd. to agree intentions of the parties.

The document determines the further development of joint projects in the following areas: communications, surveillance and intelligence systems for ground and air forces, air and rescue equipment, radar stations, seaport security equipment, armored vehicle modernization. The memorandum stipulates that the implementation of further projects will take place using mechanisms of exchange of technologies and practical experience of new weapons use during combat missions.

According to the director of “Spetstechnoexport” Mr. Vladyslav Belbas, the development of cooperation with such world leader in the defense industry gives the opportunity to take the experience of Israel in securing of the state borders. Also the above mentioned creates preconditions for developing joint defense projects to provide Ukrainian military and security forces with state-of-the-art equipment and modern technologies.

"Over the past three years, “Spetstechnoexport” has implemented a number of contracts with the largest private Israeli company Elbit Systems and continues to implement projects on both the supply of equipment and the joint development of new defense solutions, including for the needs of third countries. Due to the fact that Elbit Systems has completed the acquisition of Israeli Government-owned IMI,  the capabilities of our partners have been significantly expanded due to access to new products and technologies", - said Mr. Belbas.

Recall that Elbit Systems is the Israel's largest high-tech privately owned company engaged in the implementation of defense programs around the world, developing and supplying a wide range of airborne, land and naval systems and products for defense and national security. According to the Stockholm International Peace Research Institute (SIPRI), in 2017 the company's revenue amounted to $ 3.2 billion, which allowed the company to rank 28th in the ranking of world's defense companies. Elbit Systems shares are traded on the TASE and Nasdaq.

Israel Military Industries is an Israeli military state (until 2018) corporation that manufactures weapon systems, ammunition, as well as missile and armored vehicles. The company was the main supplier of armaments to the Israeli army. Since 2018, it is a part of Elbit Systems - the largest private defense company in Israel.

According to experts, the joint market share of Elbit Systems and Israel Military Industries in the Israeli defense market will be 30%.
 



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