Boeing and Israeli avionics specialist RADA have signed a preliminary agreement covering the US aerospace giant taking a minority stake in the company. The $10 million investment in RADA will make Boeing its largest single shareholder, with about 40%.

RADA manufactures civil and military equipment, including avionics test stations and rangeless debriefing systems. A definitive agreement is due to be concluded during the second quarter of this year following RADA shareholder approval, and the due diligence process. The Boeing move reflects increasing US defence aerospace industry interest in Israel.

Source: Flight International