Elbit Systems Ltd. (NASDAQ and TASE: ESLT) said that a decision has been made to wind up the activities of Harpia Sistemas S.A., a joint venture in Brazil of Elbit Systems subsidiary AEL Sistemas S.A , owned in conjunction with Embraer Defesa e Seguranca and Avibras DivisÃ£o AÃ©rea e Naval S.A.
Harpia was formed in September 2011 in order to explore the unmanned aerial vehicles market. The decision for partnership wind up occurred amicably given the current budget constraints in Brazil.
Due to the venture´s strategic nature for designing a Brazilian Remotely Piloted Aircraft System (SARP) the companies will continue to develop technologies to meet future demands of the Brazilian Armed Forces and the civilian market in a new format, and agreed on working together in the future.
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems.