Israel, Italy ink deal for military aircraft

Jerusalem, July 20 (IANS) Israel and Italy Thursday signed a $750 million agreement to provide the Italian Air Force with two early warning aircraft.

The contract includes ground control stations and a "comprehensive logistical support package", Xinhua quoted the government-run Israel Aerospace Industries (IAI) as saying.

Under an additional $182 million contract, the IAI will develop, manufacture and supply an observation satellite to Telespazio, a Rome-based provider of space systems services.

"Italy is an important European country and we are proud of strengthening our relationship with it," said Joseph Weiss, president and CEO of IAI.

The IAI is Israel's largest military contractor and famous for its unmanned air vehicles and high-precision weaponry.