TEL AVIV, Israel, Jan. 10 (UPI) -- Israel Aerospace Industries has signed a four-year, $1.1 billion deal with India for aircraft, missiles, unmanned aerial vehicles and intelligence systems, a major boost for the Jewish state's high-tech defense sector in an increasingly export-driven global market.
Ironically, Chief Executive Officer Yitzhak Nissan, who negotiated the contract, has been sacked in an internal squabble with IAI Chairman Dov Baharav, appointed in June 2011 to head the state-owned flagship of the defense industry amid widespread speculation of plans to privatize it.
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