Israel Military Industries (IMI) has signed a NIS 50 million contract with Indian defense industries for the joint manufacture of 125-millimeter tank shells. IMI said that signing of a large follow-on order was expected soon.
The deal was part of a partnership between IMI and Indian defense industries. IMI regards India as a strategic target, and maintains permanent offices there.
In addition to the contract with India, IMI also signed a large contract to supply flares to Finland, the first stage of which is worth NIS 14 million. The advantage of the flares, designed for mortars, and manufactured at IMI’s munitions plant, lies in their longer flying time, compared with other flares of the same type.
IMI recently announced that it had signed a NIS 200 million agreement to supply long-range 160-millimeter LAR-160 artillery rockets to a European country. The rockets, which have an effective range of 45 kilometers, are installed on a launcher manufactured by the European country.
IMI chairman Brig.-Gen. (Ret.) Arie Mizrachi said that the flares deal was a result of cooperation between IMI’s munitions plant and its Givon plant.
Published by Globes [online] - www.globes.co.il - on January 10, 2005