Israeli avionics giant Elbit, still sorting itself out after merging with Elop Electro-Optics Industries in July 2000, is on the look-out for further growth by acquisition. President and chief executive Joseph Ackerman is eager for Elbit to be recognised as a global company, pointing out that the organisation employs 1,000 people in the US, of a total payroll of 4,000. Only 25% of the company's $700-800 million turnover results from its activities in Israel, with the US accounting for 25%, Europe for 25% more, and Asia and South America accounting for the final quarter between them. The company is looking at further mergers and acquisitions but is, according to Ackerman, "halfway there since the acquisition of Elop". Despite his ambitions for further growth, he believes that Elbit will always work with strategic partners
Elbit's current partners include Bell/Boeing (on the V-22), Embraer (on the AMX, ALX and F-5), Lockheed Martin (on the F-16, JSF and F-22), Sikorsky, IAI and Rafael, and the company is in discussion with a number of other potential team-mates, including EADS and Thales.
Activities
The company is a full service provider whose activities range from supplying items of high tech equipment to upgrading aircraft platforms, and even to managing turnkey support programmes. Elbit is growing fast, with turnover having more than doubled since 1996, but Ackerman still has at least one ‘small firm' philosophy - he places considerable emphasis on putting the customer first.
Although its activities are broadly based, the company places great emphasis on aircraft and helicopter upgrades, and on reconnaissance sensors. Elbit Systems exhibits are on view in a 110 sq m stand inside the Israeli Pavilion, in an impressive outdoor static display, and in the flying display.
Source: Flight Daily News
