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ROME (BNS): Italian company Finmeccanica has signed contracts worth $850 million with Israel's Ministry of Defence for the sale of 30 M-346 advanced trainers to Israel.

The contracts were signed through Italian operational companies Alenia Aermacchi, Telespazio and SELEX Elsag in the framework of a collaboration agreement between the Italian and Israeli governments.

Under the contract, Alenia Aermacchi will supply the M-346 advanced trainer aircraft including aircraft, engines, maintenance, logistics, simulators, and training for a taotal value $1 billion of which approximately $600 million will accrue to Alenia Aermacchi.

The new aircraft will replace the A-4 Skyhawks currently in service with the Israeli Air Force. The delivery of the first unit is scheduled for mid 2014.

Israel Aerospace Industries Ltd. (IAI) will in turn build a high-resolution optical military satellite system for Earth observation, called OPTSAT-3000, for Telespazio, the prime contractor for the $200 million satellite, launch services, operational and logistical activities, and in-orbit testing and the commissioning for the Italian Ministry of Defense. IAI is due to deliver the satellite in 2015.

SELEX Elsag will supply identification, communications and computer systems for flight control of the 30 M-346 advanced trainer aircraft, for approximately USD 41 million, through the company ELTA Systems Ltd, of the NATO-standard subsystems for communications, tactical links, and identification for two CAEW (Conformal Airborne Early Warning) aircraft for the Italian Air Force.