Image Sourced ShutterStock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Electro Optic System has denied allegations the company is selling weapons to Yemen
  • ESO was accused of sending a weapons system to an unnamed Arab military

Electro Optic System (EOS) has once again denied allegations the company is selling weapons to Yemen.

ABC News released a report claiming for months, weapons systems have been supplied from Australia to the United Arab Emirates, whose army stands accused of war crimes for its role in the Yemen war.

The report stated that neither the Australian Government nor EOS would reveal who was buying the weapons. According to the ABC, however, damning photos from an anonymous source have revealed that EOS has been supplying the directly to the UAE Armed Forces.

EOS initially denied allegations in April, and released another statement today today reaffirming their stance on the issue after the ABC updated the article earlier this week.

In the statement, EOS was adamant that “no EOS product has ever been deployed to or used in Yemen”.

The company said its weapons systems require formal approval by both Australia and the USA before they can be exported from Australia to its allies and coalition partners.

“This dual restriction renders those products amongst the most highly controlled in the world, since both the USA and Australia closely observe the laws of armed conflict and apply high standards for human rights,” Group CEO Ben Greene said.

According to the ABC the Australian Government has come under fire for granting EOS defence export licence.

“It is still true that no EOS product has, at any time, been deployed to or used in Yemen.”

The ESO an Australian technology company operating in the space and defence force markets. The company is also an ISR (Intelligence, Surveillence and Reconnaissance) for land warefare.

The company said it will continue to provide technology to Australia and it allies and coalition partners.

Electro Optic Systems Holdings has dropped 2.66 per cent today and is currently selling at $4.03.

EOS by the numbers
More From The Market Online

The Market Herald launches bursary to support and grow new voices in business and finance journalism

The Market Herald is launching a Journalism Bursary to support early-career business and finance journalists. The…

Rio Tinto climbed 1.7 per cent to a decade high

The prospect of lower interest rates and a federal spending splurge helped offset a flat night…

Virgin announce changes to Boeing 737 orders

Virgin Australia has reached an agreement with Boeing to restructure its Boeing 737 MAX aircraft deliveries…