News

The Company is announcing that it has reached an agreement with the Ministry of Defense, which is a controlling shareholder through the Israel Military Industries Ltd., with regard to manufacture and sell armored combat vehicle systems, at a forecasted scope of approx. 85 million NIS during the first stage, with expected growth for three subsequent years, to an overall scope of approx. 285 million NIS.

The anticipated supply times will be spread over approx. 5 years from the conclusion of the deal.

This agreement is subject, by law, to approvals from all the company’s authorized organizations.

The deal, if approved, will strengthen the company’s hold on the power transmission system market for armored vehicle products.

This is an English translation of the official Hebrew announcement