Globes - Israel Business News·3 min read·medium
Serbia to open joint UAV factory with Elbit in September
D
Dean Shmuel Elmas
✦AI Summary
Serbia is set to open a joint UAV manufacturing facility with Israeli defense firm Elbit Systems in September. The partnership follows a significant $1.63 billion defense contract between the two parties for various military technologies.
President of Serbia Alexander Vucic announced yesterday that his country was about to open a UAV factory with Israeli company Elbit Systems (TASE: ESLT; Nasdaq: ESLT). The inauguration is expected to take place between September 15 and September 20. Elbit Systems will hold a 51% majority stake in the factory and Serbia's state-owned arms company SDPR will hold 49%.
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