Israel Aerospace Industries (IAI) recently signed an agreement to purchase HELA Systems Private Limited, which is a subsidiary of ELTA Systems Ltd based in India. The agreement showcases IAI’s commitment to the Indian government's Atmanirbhar Bharat (Make in India) initiative, as it seeks to invest in Aerospace Services India.

Following its acquisition by IAI, HELA will offer comprehensive maintenance, repair, and overhaul (MRO) support for ELTA Systems. Additionally, it will provide testing and technical services, including annual maintenance contracts and the supply of spare parts to defense customers in India. The company's facility, located in Hyderabad's rapidly developing industrial area, will accommodate these operations, a release noted.

Boaz Levy, IAI's president and CEO said, "IAI conducts a wide range of collaborative activities and acquisitions throughout the world as part of the company's strategy. IAI supplies advanced and operationally-proven systems for marine, land, air, and space use, and works closely with India’s Armed Forces to develop and produce advanced technologies. For the past 30 years, IAI has built close partnerships in India developing and providing Indian customers with a variety of strategic platforms, including air and missile defence systems, unmanned aerial systems, satellites, radars, and training platforms."

Yoav Turgeman, IAI's VP and ELTA CEO, added, "The acquisition of HELA Systems reflects our strategic transformation to provide fast direct access to ELTA's superior solutions in full support of India's Atmanirbhar Bharat vision of becoming self-reliant. HELA leverages top technology, innovation, and talent to deliver customer satisfaction so customers can focus on their mission. IAI has long-standing operations in India, working with many partners and customers in the Indian market."