Israel Aerospace Industries hunts for US acquisitions

Israel Aerospace Industries, the country’s top-selling defence group, is on the hunt for takeover targets in the US, according to its chief executive Joseph Weiss.

The state-owned company, whose product lines include missiles, air-defence systems, satellites and business jets, plans to expand its US operations in the wake of America’s $38bn, 10-year military aid package for Israel, Mr Weiss said in an interview. 

The package, the largest of its kind in US history, was agreed last year with President Barack Obama’s former administration, and will give preference to US 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 activity in the US, to buy something.”

Mr Weiss added that IAI had begun preliminary work to look for potential acquisitions, but declined to go…

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