IMI wins over $230m in orders

The deals, amid a privatization battle, include sale of artillery to an Asian army.

Israel Military Industries Ltd. (IMI) reported two substantial deals this morning. IMI won a $210 million artillery order from an Asian army and a NIS 90 million order from Israel's Ministry of Defense for heavy ammunition for the IDF. The orders have been placed as IMI is waging a battle with the Ministry of Finance against privatization.

Commenting on the Asian order for advanced artillery systems for various ranges, IMI said, "Our products were chosen due to the overall response that the systems provide for performance needs and due to the ease with which they can be operated and maintained."

A sources at IMI told "Globes," "It's a shame that the company is in the headlines only in a negative context about the Treasury's struggle with management over privatization." The source added that the company also develops excellent products and succeeds in closing good contracts.

Published by Globes [online], Israel business news - www.globes-online.com - on July 5, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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