Author: Navit Zomer
Defense Ministry Awards Ashot Ashkelon Industries $23 Million Contract Ashot Ashkelon Industries, a leading manufacturer of tank and APC components, has secured a lucrative contract worth approximately NIS 86 million (about $23 million) from the Defense Ministry. The company, backed by the First Israel Mezzanine Investors (FIMI) Opportunity Fund, boasts a record backlog of orders totaling around 1.6 billion shekels ($429.4 million). CEO Eliyahu Damari stated, “Despite the ongoing war, Ashot remains committed to fulfilling orders for the Defense Ministry and other clients both in Israel and worldwide.” The FIMI Opportunity Fund acquired Ashot from Elbit in 2022 for over…
Israeli community receives record sum following Hamas attack On October 7, an Israeli community attacked by Hamas received the largest sum yet for reconstruction efforts. Despite the devastation, members of the Kibbutz community are determined not to turn their home into a memorial. The Directorate in charge of reconstruction after the attack is gearing up to provide building plans to the government by September. This marks a significant step forward in the rebuilding process, signaling hope for a brighter future for the affected community. With the support of the government and various organizations, the Israeli community is on the path…
Israel Aerospace Industries (IAI) has clinched a massive $1 billion supply deal for military equipment with an undisclosed “third party” country, as announced on Tuesday. The agreement spans approximately five years, with a target completion date set for 2029. IAI has committed to providing guarantees for advances, execution, and responsibility throughout the project’s progress. Reports suggest that the deal involves the production of satellites for communication radar and espionage purposes, with indications pointing towards Israel and Morocco as the participating nations. IAI, being one of the select few manufacturers globally with the necessary expertise for such satellite production, stands at…