News

 

Ashot Ashkelon, a subsidiary of Israel Military Industries, reported to the Stock Exchange today

(February 13, 2009) that it signed a contract with an American aerospace engine manufacturer.

Ashot Ashkelon, which specializes in manufacturing commercial aerospace systems and military products, will supply shafts for jet engines from 2009 and for approximately 10 years thereafter.

The agreement also determines that should the companies mutually consent, they can extend this cooperation beyond the aforementioned period. The total forecast financial scope of the deal is approx. 80 million dollars.

This deal expands the company's business in the aerospace products market, and its specialization in manufacturing shafts for jet engines.