September 25, 2019 / 2:00 PM / 21 days ago

Israel Aerospace eyes U.S. government contracts, acquisitions

FILE PHOTO: The logo of state-owned Israel Aerospace Industries (IAI), the country's biggest defence contractor, is seen at their offices next to Ben Gurion International airport, near Or Yehuda, Israel February 27, 2017. REUTERS/Baz Ratner

JERUSALEM (Reuters) - Israel Aerospace Industries (IAI) [ISRAI.UL] said on Wednesday its U.S. unit opened a new government relations office in Washington DC as part of its strategy to secure more U.S. contracts.

Government-owned IAI, which will open a new headquarters in Herndon, Virginia later this year, said it was actively looking to acquire U.S. companies to establish a stronger U.S. presence.

IAI said having a presence in Washington is critical to helping it grow in the U.S. market by strengthening its ties to Congress, the White House and local industry.

It said it already has partnerships with Lockheed Martin, Boeing, Honeywell, Gulfstream and General Dynamics and that it was seeking more collaborations.

“IAI North America is executing a strategic growth plan that includes M&A and organic growth ... and will necessitate an expanded U.S. manufacturing footprint in the world’s largest defense market,” said Swami Iyer, CEO of IAI North America.

Reporting by Steven Scheer; Editing by Tova Cohen

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