Israel Aircraft's Diversification Move

Israel has successfully launched its second civilian communications satellite. The Dec. 27 launch from Kazakhstan is part of Israel Aircraft Industries Ltd.'s effort to reduce its dependence on the highly volatile global arms market. Spacecom Ltd., the joint venture between state-owned Israel Aircraft, the country's largest defense contractor, and private partners, estimates revenue from the satellite will be $500 million over 12 years. The satellite will cover the Middle East, Central Europe, and the East Coast of the U.S. The company has already sold 70% of its capacity to broadcasters in the U.S. and Germany, as well as the Israel Broadcasting Authority. EDITED BY Edited by Rose Brady