Date: 19 November, 2007
Bank of the West and General Atomics Aeronautical Systems, Inc. of Rancho Bernardo today announced completion of a new US$ 300 million credit facility as the company expands manufacturing and sales of Predator series unmanned aircraft systems for military and commercial applications worldwide.
The bank and GA-ASI have had a financial relationship since 1995, when the company was pioneering development of unmanned military aircraft systems.
“The operational effectiveness, endurance, versatility, relatively low cost and safety of Predator and Predator B aircraft in Iraq and Afghanistan have contributed to GA-ASI’s success in supplying the U.S. Air Force, U.S. Army, NASA and other government agencies,” said SVP Cory Brazas, regional manager of the bank’s National Banking office in San Diego.
“The company is now expanding to supply a variety of unmanned reconnaissance aircraft to the United Kingdom, and is pursuing relationships in Canada and Australia.” General Atomics Aeronautical Systems, Inc., an affiliate of General Atomics, provides comprehensive solutions for military and commercial applications worldwide.
The company’s Aircraft Systems Group is a leading designer and manufacturer of unmanned aircraft systems, including Predator, Predator B and Sky Warrior and provides pilot training and support services for field operations. The Aircraft Systems Group is currently developing the next-generation U.S. Army Sky Warrior, featuring a heavy-fuel engine, triple-redundant avionics and increased armament capability.
The company’s Reconnaissance Systems Group designs, manufactures, and integrates the Lynx SAR/GMTI radar onto both manned and unmanned aircraft, as well as the integrated Magnum (Raptor view) high-resolution EO/IR sensor package.