IMOD Permits Aeronautics to Export Orbiter 1K to Material Customers
IsraelDefense
| 05/02/2019
Orbiter 1K (Photo: Aeronautics)
The Israeli Ministry of Defense has reinstated effective immediately Aeronautics’ export license to material customers, the drone maker announced Monday in a filing to the Tel Aviv Stock Exchange.
In August 2017, the ministry halted Aeronautics' license to export the Orbiter 1K UAV to an unnamed but prominent client, leading to a probe by Israeli Police and the Israel Securities Authority for suspected violations of the Israeli defense export controls law.
The announcement was made after the Defense Ministry said last week that it had decided to revoke the export licenses of the three senior officials.
Aeronautics stated in Monday’s filing it can now resume supplying its products to the aforementioned client but said the temporary suspension of the company’s CEO, its VP Business Division and a third employee remained in place.
In 2017, Aeronautics valued the blocked deal at $20 million.
[Sources: CTech, The Times of Israel. Reuters]
Orbiter 1K (Photo: Aeronautics)
The Israeli Ministry of Defense has reinstated effective immediately Aeronautics’ export license to material customers, the drone maker announced Monday in a filing to the Tel Aviv Stock Exchange.
In August 2017, the ministry halted Aeronautics' license to export the Orbiter 1K UAV to an unnamed but prominent client, leading to a probe by Israeli Police and the Israel Securities Authority for suspected violations of the Israeli defense export controls law.
The announcement was made after the Defense Ministry said last week that it had decided to revoke the export licenses of the three senior officials.
Aeronautics stated in Monday’s filing it can now resume supplying its products to the aforementioned client but said the temporary suspension of the company’s CEO, its VP Business Division and a third employee remained in place.
In 2017, Aeronautics valued the blocked deal at $20 million.
[Sources: CTech, The Times of Israel. Reuters]
