💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Elbit Systems buys M7 Aerospace for $85 mln

Published 12/15/2010, 02:58 AM
Updated 12/15/2010, 03:00 AM

TEL AVIV, Dec 15 (Reuters) - Israeli defence electronics company Elbit Systems said on Wednesday its subsidiary Elbit Systems of America acquired M7 Aerospace LP for $85 million in cash to expand its aviation support capabilities.

Texas-based M7 Aerospace provides aviation services such as aerostructure manufacturing, government logistics support services, maintenance, repair and overhaul, engineering services and aircraft parts and support.

M7 Aerospace will become part of Elbit Systems of America's (ESA) offerings of support to fleets operated by the U.S. military as well as to commercial customers.

"This acquisition complements the breadth and depth of ESA's experience in the support and maintenance of aircraft both domestically and worldwide and we hope it will open the door to new customers and projects," Elbit Systems of America President and CEO Raanan Horowitz said in a statement. (Reporting by Tova Cohen; Editing by Jon Loades-Carter)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.