Elbit Systems is constructing a company in South Korea together in joint ownership with Sharp Aviation K, a Korean supplier of aviation services that deals with civilian and military projects in the country. Elbit will hold 19% ownership, with an option for increasing the percentage to 50%.
The new company will be named Sharp Elbit Systems Aerospace Inc (SESA), and it will operated in Ansan. It will offer capabilities in the field of maintenance, repair and production of advanced aviation systems for military applications. It will also deal with research and development in the fields of systems and avionics for existing and future projects, such as the Light Assault Helicopter (LAH) and the development for the future Korean fighter project (KFX).
Contracts that are currently operated by Sharp Aviation K will be transferred to SESA as part of the deal. As a Korean company, SESA will also be able to offer reciprocal procurement solutions for foreign supplies as well as for OEM manufacturers selling defensive services and products in Korea.
Bezalhel Machlis, President and CEO of Elbit Systems, said that "The construction of this shared company will bring new opportunities and it represents a significant step for Elbit Systems in Korea, which we deem a very important market."