Elbit Systems of Israel announced on 7 January that it has agreed to dissolve the Brazilian Harpia Sistemas joint venture (JV) that it operates with its subsidiary AEL Sistemas, Embraer Defense and Security, and Avibras.
The Harpia JV was created in September 2011 to target opportunities in the Brazilian market for unmanned aerial vehicles.
Elbit Systems said in a statement that “the decision for [the] partnership wind-up occurred amicably given the current budget constraints of Brazil”.
Harpia was created as a joint venture between Embraer (which held 51%) and AEL, which held the remaining 49%. Autonomous systems engineering venture Avibras acquired a 9% stake in 2013, leaving Elbit Systems with 40% of Harpia.
Source: IHS Jane’s 360