Elbit Systems recently won a battle in Brazil to prevent the Brazilian company BRAIS from representing Israeli defense exporters in Brazil, fearing that BRAIS’s relations with competitor IAI would favour that company. Source.
Elbit’s Brazilian arm is Aeroelectronica Industria de Componentes Avionicos SA. , or AEL. It’s main contract is the modernisation of Brazil’s F-5 aircraft, and electronics for Brazil’s new AL-X aircraft. It is a relatively small company, but Elbit CEO Yossi Ackerman claims to be involved with projects worth hundreds of millions of dollars in the military (including drones) and space industries in Brazil.
In November Shimon Peres and a delegation of Israelis visited Brazil on a business promotion tour. On March 15, 2010, Brazilian president Lula Da Silva and many Brazilian business people started a visit to Israel.
There appears to be a major thrust to build business links between Israel and Brazil.
Lula criticised Israeli policy on the West Bank and Gaza and a report of his visit can be seen here.