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Aeronautics Wins Contract With Client Linked to Previous Probe

Earlier this month, the Israeli defense ministry reinstituted effective immediately Aeronautics' export license

Hezi Sternlicht 11:4417.02.19
Israeli drone maker Aeronautics Ltd. announced Sunday that the company won a two-year, $13 million contract which entails performing maintenance work for the UAVs sold to a customer—the same client whose contacts are under criminal investigation by the Israeli Defense Ministry, in a case that is still under a gag order.

 

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Founded in 1997 and based in central Israel, Aeronautics develops military drones and has over 45 defense, military, and homeland security customers worldwide.

Aeronautics drone. Photo: PR Aeronautics drone. Photo: PR
In August 2017, the ministry halted Aeronautics' license to export a munition UAV system to an unnamed but prominent client, leading to a probe by the Israeli Police and the Israel Securities Authority for suspected violations of the Israeli defense export controls law. Earlier this month, the defense ministry reinstituted effective immediately Aeronautics’ export license.

 

According to the company’s reports for the third quarter of 2018, 19% of the company's orders, which amount to $39 million, were for the aforementioned customer.
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