BDS Gets it Wrong Again

 

Elbit Systems reorganises its UK business activities.

“Palestine Action’s BDS sustained campaign of direct action against Elbit Ferranti in Oldham proves ultimately successful as Elbit sell the subsidiary and pack their bags.”
 
So reads the headline by the Palestinian Action group in the UK. However, this could not be further from the truth. 

Quite clearly Elbit is not going anywhere, they are staying in th UK and as they report “maintaining an impressive footprint across the UK, providing a range of advanced systems for the UK Ministry of Defense and will also allow the company to meet the future capability needs of the UK Armed Forces” 
 
Elbit Systems UK has revealed a restructuring of its UK operations to focus on the growth of its core business.

As part of the reorganisation process, the company has sold its subsidiary Ferranti Technologies’ Power and Control business to TT Electronics for a cash consideration of approximately $12m (£9m).

The transaction was dependent on customary post-completion working capital adjustments.

Ferranti’s remaining business, including training and simulation, display systems, aircrew survival systems, avionics, and few others, is intended to be integrated into Elbit Systems UK.

According to Elbit Systems UK, the deal confirms the company’s strategy to develop its core business through continued investment.

These changes will enable the company to concentrate on new and innovative technology solutions development.

It will also allow the company to meet the future capability needs of the UK Armed Forces.

Elbit Systems UK CEO Martin Fausset said: “We are pleased to confirm continued successful progress in implementing Elbit Systems UK’s strategy.

“Elbit Systems UK already has an impressive footprint across the UK, providing a range of advanced systems for the UK Ministry of Defense.