News

Ashot Ashkelon, a subsidiary of Israel Military Industries, reported to the Stock Exchange today that it signed an 81 million dollar contract with a large international aviation and aerospace company. Ashot Ashkelon, which specializes in manufacturing military products and commercial aviation systems, will supply an international company with assemblies for an actuation system to open the wings flaps of an advanced airplane. This alliance will be for a period exceeding 15 years.

The Ashot Ashkelon plant is located in Ashkelon employs approx. 400 workers, and specializing in transmission and drive systems for combat vehicles, unique transmissions and gearboxes for airplanes, main components for jet engines and ammunition made from innovative materials.

Avi Felder, the Chairman of Ashot and President of Israel Military Industries states that since 2007 Ashot Ashkelon has received orders in excess of 200 million dollars, which form a substantial basis for growth in future sales. Felder added that expanding business in the commercial domain has been defined as a strategic goal that supplements and balances the military domain. It is worth noting that a few months ago Ashot Ashkelon received a 46 million dollar order from the IDF to supply drive train systems for future vehicles, as well as additional deals in the military and commercial domains.

Dan Katz, President of Ashot Ashkelon, stated that this contract is the result of technological and marketing steps Ashot has taken throughout the past three years, as well as investments in equipment and machines.

Katz said that Ashot Ashkelon received a lot of attention in a military products exhibition that took place last month in Paris, and this week it will participate in the prestigious exhibition in Farnborough, England. During the exhibition, the company will meet with potential customers to expand its business in the actuation systems of advanced airplanes.