IAI completes Tiltan purchase

Israel Aircraft Industries completed its purchase of 30 percent of Matrix subsidiary Tiltan for $6 million.

By AVI KRAWITZ
November 1, 2006 07:11

 
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Israel Aircraft Industries completed its purchase of 30 percent of Matrix subsidiary Tiltan for $6 million, the companies said Tuesday. IAI has an option to buy an additional 5% in the company for $1.54m. Matrix is expected to record a capital gain of NIS 7.6m. from the deal in its fourth quarter earnings.

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