Elbit Turns Initial Mikal Stake Into Targeted Acquisitions
Apr 07, 2011 14:14 EDT

African sale for ATMOS howitzers. (April 6/11)
In June 2009, Elbit Systems in Haifa, Israel, agreed to pay $18 million for a 19% stake in fellow Israeli defense firm Mikal Ltd., the country’s 2nd largest privately owned defense conglomerate. The Mikal group operates through 3 main divisions: Soltam Systems, which supplies artillery, mortars, and ammunition; Saymar, which supplies armored fighting vehicles; and ITL Optronics, which supplies sensors for soldiers, unmanned aerial vehicles, military vehicles and battle management systems.
By August 2010, however, the acquisition had shifted to a targeted buy of several Mikal properties. The move will consolidate Elbit’s position in a number of sectors, offering the prospect of close links between its sensors, targeting systems, UAVs, and front-line battlefield platforms….
- The Acquisitions
- Contracts & Key Events [updated]
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