Sources inform ''Globes'' that the Carlyle Group of the US is negotiating to buy Israel Military Industries' (IMI) Academy for Advanced Security and Anti-Terror Training. Former US Secretary of Defense Frank Carlucci is chairman of the Carlyle Group
The academy provides consultancy services and establishes and trains anti-terror units for governments and private customers worldwide. Operating in the Gezer regional council area, the academy employs former defense establishment officials, most of whom work under contract. IMI owns 75% of the academy, while IFP owns the rest.
Although the academy does not yet have large revenue, it attractiveness increased after the September 11 attacks, hence the interest in it.
Carlucci was a consultant to General Dynamics (NYSE:GD), which competed against Israel Military Industries for the Turkish Army tank upgrade tender.
IMI is selling off all of its non-core businesses: small arms plants; the Academy for Advanced Security and Anti-Terror Training, systems engineering division; Aircraft Systems Division in Haifa, which manufactures fuel tanks for fighter jets; and the general engineering consultancy company. As reported by ''Globes'', there are plans to fully privatize IMI later.
IMI claims that since the Vaish Committee published its recovery plan for the company, "There has been considerable interest in acquiring the units intended for sale." However, IMI's management said in response to this report, "IMI does not care to comment about potential buyers for the units that are up for sale."
Published by Globes [online] - www.globes.co.il - on September 23, 2002