07.Oct .2020 13:47

What is the turnover of the Georgian analogue of Israeli Elbit Systems factory?

What is the turnover of the Georgian analogue of Israeli Elbit Systems factory?
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12.2 million GEL of turnover in 2019 and 170 workers employed – according to the report by the Ministry of Finance of Georgia, such are the numbers for JSC Aero structure Technologies Cyclone (ATC), a joint venture company founded by Georgia’s Partnership Fund and Israeli technological company Elbit Systems.

The new enterprise - an analogue of the Elbit Systems factory (located in Israel, the city of Haifa) was opened in 2018 in Tbilisi to produce products under the ELBIT SYSTEMS-CYCLONE brand. It was then said that the ELBIT would launch the production of the different replacement parts for the civil aircraft, including aircraft doors, aerodynamic surfaces, and control-panels and these parts would be designed by such leading companies as Boeing, Airbus, Bombardier and others. The company would employ 300 local workers trained by the leading specialists at the aviation market, and 100% of the products would be export-oriented.

In the beginning of 2019, the company gained the status of the certified supplier of licensed parts of the Boeing.

As per initial planning, upon reaching the full-scale capacity (the 7th year), the annual sales of the enterprise should increase up to 60 million USD and more.

Total investment volume of the project equals 93 million USD.