Pursuant to the merger plan, Tadiran Communications will be merged into Elbit Systems and will cease to exist as an independent legal entity. Moreover, a new, wholly-owned Elbit Systems subsidiary, Elbit Systems Land and C4I - Tadiran Ltd., will assume Tadiran Communications Israeli operations as well as those of Elbit Systems Land and C4I Division, all in accordance with the merger plan.
The merger plan will be submitted to the Israeli Companies Registrar for approval. Subject to receipt of the Companies Registrars and other applicable approvals, the merger is expected to take place at the beginning of 2008.
Joseph Ackerman, President and CEO of Elbit Systems, said, "The synergic activities of Tadiran Communications with those of the rest of the Elbit Systems Group are already bearing fruit. We expect that the establishment of the new merged company will provide further business opportunities due to the ability to offer more comprehensive and competitive solutions to existing and new customers."
For more information, please send your e-mails to swm@infothe.com.
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