Skyhawks to be replaced?
Photo: Courtesy of IAF website
Finmeccanica, Israel sign $850 million in contracts
As part of deal, Alenia Aermacchi will supply 30 M-346 jet trainers to replace A-4 Skyhawks currently in service with Israeli air force
Italian aerospace and defense company Finmeccanica
said on Thursday it had signed contracts for about $850 million as part of a previous agreement between the Italian and Israeli
governments.
In a statement, the state-owned group said the deal involved its aeronautics Alenia Aermacchi unit, as well as its satellite and defense electronics units Telespazio and SELEX Elsag.
"The deal... demonstrates that investments in technology represent for the group and for the Italian industrial system the right path to ensure a sustainable future that increases industrial capabilities, making them more competitive," Chairman and CEO Giuseppe Orsi said in the statement.
As part of the deal, Alenia Aermacchi will supply 30 M-346 jet trainers to replace the A-4 Skyhawks currently in service with the Israeli air force with delivery of the first unit due mid-2014. Aleania's share of the contract is worth $600 million.
