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Est. in 1975
The IDF flies the F16 fighter plane.
be an even better yeSr. The com-
pany sold $7.06 million in the first
quarter, compared to $4.7 million
last year, an increase of 48 per-
cent.
BVR's chief financial officer,
Yuval Zeiger, predicts sales of $30
million this year. In recent
months, BVR has signed some
substantial agreements, one
worth $14.5 million for a F16 sim-
ulator to a member of the NATO
community, and another worth
$40 million for a large-scale
ground force simulation system
for a country in Southeast Asia.
These are to be delivered in 1998
and 2000.
Today, Tzidon says BVR has
an $80 million backlog of orders
to be delivered over the next three
years.
BVR's customers are mainly
from NATO countries or the Far
East. "We haven't managed to do
much in America," Tzidon ac-
knowledges. "It's hard to do de-
fense in the United States."
In the meantime, BVR's staff
dropped from over 100 a few
years ago to about 80 today. Tzi-
don says this is because the com-
pany's core technology has been
developed and BVR is now just
working on applications. He is
anxious that BVR not grow too
large. "I don't want the compa-
ny to get too big. We have less
staff today, but we're making
more money," he says.
While BVR has become a well-
known brand name, it does have
competitors, some of them big
names such as Lockheed Martin.
Tzidon insists, however, that BVR
is better.
BVR offers lower prices and
can deliver products faster (BVR's
normal delivery time is 18
months). "We've already made
the cake," explains Tzidon. "We
only need to put it in the oven."
This system also means that
every time a new application is
added for a certain customer, it
can also be added to the exist...-ie.
generic machine.
Another benefit, says Tzidon,
is what he calls the "what if' el-
ement of BVR simulators — the
ability to redo flights again and
again. "We strongly believe that
the best way to learn is by mak-
ing mistakes and not being pun-
ished.
If you're afraid of making mis-
takes when you fly, you don't
push yourself. But it's only by
pushing yourself to the edge that
you can learn where the edge is.
Our system gives you the chance
to do things again and again in
lots of different ways to find the
best solution, takinginto account
all the necessary parameters. In
war, you don't have time to make
guesses."
BVR's decision to become a
holding company was an obvious
progression. Both Sheinman and
Tzidon soon recognized that the
company's technology had po-
tential applications in many
fields, and they wanted to recycle
it with "an eye to the commercial
market." Wisely, they decided to
create separate companies with
separate staff '
In a bid to streamline opera-
tions, BVR has already under-
gone one restructuring, which
created two major divisions: sim-
ulators and debriefing systems.
And now, to avoid any confusion
among investors, it plans anoth-
er. The idea is to spin off BVR's
profitable defense activities into
a separate company owned 100
percent by JIVR, called BVR Sys-
tems. This will leave BVR Tech-
nologies as a holding company in
charge of the subsidiaries and
also responsible for looking for
other applications. "It will be eas-
ier to evaluate," says Tzidon.
"There's no synergy now."
BVR also plans a new system
— the "finale" as Tzidon likes to
call it — that incorporates sim-
ulator and debriefing in one. It al-
lows you to do "what if' in real life.
"We hav6 customers who started
by buying the simulators and
ended up buying the ACMI, or
the other way around. We are the
only company that offers a holis-
tic solution." ❑
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