IAI prowling for US companies

The state-owned Israel Aerospace Industries, that country’s top-selling defense group, is on the prowl for acquisitions to target in the U.S., according to CEO Joseph Weiss. IAI plans to expand its American operations in the wake of a $38B, 10-year military aid package for Israel agreed to under former President Obama’s administration in 2016. The package, the largest of its kind in U.S. history, will give preference to American manufacturers in supplying Israel with military goods. He said that IAI could in time employ “hundreds of people” in the US. “We are looking to do some M&A (mergers and acquisition) activity in the U.S., to buy something.” Weiss said. IAI has done preliminary work on some possible acquisitions, but declined details. Weiss expects IAI to move forward with its M&A plan by 2018. (Source: Financial Times 08/13/17) Gulf Coast Note: IAI’s American subsidiary, Stark Aerospace, is located at the Golden Triangle Regional Airport in Columbus, Miss. Stark Aerospace was established in 2006 at Mississippi State University's Raspet Flight Lab in Starkville, and a second division was added in 2007, in Columbus. Stark’s Unmanned Aerial Systems division is producing the Hunter MQ-5B reconnaissance drone for the U.S. Army.