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    EDGE   ID1000159403

PT INDOINTERNET TBK.

(EDGE)
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PT Indointernet Tbk : Israel Aerospace, UAE weapons maker team up on anti-drone tech

03/11/2021 | 04:04am EDT

JERUSALEM (Reuters) - Israel Aerospace Industries (IA) said on Thursday it would jointly develop an advanced drone defence system with the United Arab Emirates' state-owned weapons maker EDGE.

Israel and the UAE formalised relations last year, brought closer by commercial interests and concern over Iran.

State-owned IA, a major Israeli defence firm, said in a statement that the companies will develop a Counter-Unmanned Aircraft System "tailored to the UAE market, with wider ranging benefits for the MENA region and beyond".

Yemen's Iran-aligned Houthi movement, which recently stepped up cross-border missile and drone attacks on Saudi Arabia, has in the past threatened to launch strikes on the UAE.

The UAE had been Riyadh's main partner in the Saudi-led military coalition that intervened in Yemen in March 2015 against the group, but a senior Emirati official said in February that it had ended its military involvement in Yemen last October.

The war has been in a military stalemate for years and in 2019 the UAE scaled down its presence in Yemen following attacks that year on tankers in Gulf waters, including off its shores.

The UAE already has an advanced anti-missile interception system, the U.S. Terminal High Altitude Area Defences (THAAD).

EDGE, tasked with supplying advanced weapons to the UAE armed forces, is focused on developing drones, unmanned vehicles, smart weapons and electronic warfare equipment rather than conventional weaponry.

(Writing by Dan Williams and Ghaida Ghantous; Editing by Alexander Smith and Jan Harvey)


ę Reuters 2021
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Financials
Sales 2020 476 B 33,3 M 33,3 M
Net income 2020 122 B 8,52 M 8,52 M
Net cash 2020 104 B 7,30 M 7,30 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 9 919 B 698 M 694 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 222
Free-Float 49,0%
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Income Statement Evolution
Managers and Directors
Djarot Subiantoro President Director
Otto Toto Sugiri President Commissioner
Den Tossi Ishak Director-Operation
Indri K. Hidayat Independent Commissioner
Edwin Prawiro P. Djojosoesilo Commissioner
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