The Israel Air Force today received its first C-130J Super Hercules at a ceremony at the Nabatim Air Force Base in the south. This is the first of three Super Hercules transport planes, built by Lockheed Martin Company (NYSE: LMT) that the Air Force will receive by early 2015.
The Ministry of Defense is in talks with Lockheed Martin on the procurement of three more Super Hercules, at a cost of $75 million each. The plane is equipped with advanced avionics, some of which were developed by Israeli companies, has a higher payload than earlier versions of the plane, a longer range, and bad weather capabilities.
The C-130 was first built 50 years ago. It is the Air Force's logistics mainstay. The Air Force will continue to operate older versions of the C-130, called the "Rhinoceros" in Israel; the C-130J has been named Shimshon (Samson).
Earlier today, Lockheed Martin CEO Marillyn Hewson inaugurated the company's offices at the Beersheva high-tech park. The new office will support the company's activity in Israel, including its participation in the IDF's move to the Negev. "In the US, Silicon Valley is the national center of IT entrepreneurship, and with the opening of this office, alongside the strategic investments by the IDF and multinationals, it is clear to everyone that Beersheva will become the Israeli Silicon Valley," she said.
Published by Globes [online], Israel business news - www.globes-online.com - on April 9, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014