Hello, Guest!
  • Friday, April 26, 2024

IMI Awarded Potential $450M Israel Munition Supply Contract


IMI Systems has secured a potential seven-year, $450 million contract to provide munitions to Israel’s infantry and armor units, Defense News reported Monday.

Barbara Opall Rome writes that Israel’s defense ministry said the multiyear procurement effort will help the Israeli armed forces to resupply the country’s inventory of weapons systems and support live-fire training of ground troops in the coming years.

IMI President and CEO Avi Felder was quoted as saying the deal stems from the ministry’s decision ensure “continuity of strategic production lines” as the state-owned company transitions to a new facility in southern Israel.

In December 2013,  the Israeli government approved a privatization plan for IMI and the company should transfer its headquarters to Negev by 2022 as part of the plan.

The report said IMI also entered into technology partnerships with multiple defense contractors such as BAE Systems, DRS Technologies, General Dynamics (NYSE: GD) and Raytheon (NYSE: RTN).

Video of the Day

Related Articles

Boeing, Lockheed Among Downselected Companies for UK’s $1B Medium Helicopter Competition C4ISR

Boeing, Lockheed Among Downselected Companies for UK’s $1B Medium Helicopter Competition

Boeing (NYSE: BA), Lockheed Martin (NYSE: LMT), Airbus and Leonardo will advance to the next phase of an estimated $1.15 billion acquisition program to replace the U.K. air force’s Puma HC.2 medium support helicopter platform, Breaking Defense reported Wednesday. A British defense ministry spokesperson said the agency intends to ask all four companies to submit

Lt. Gen. Duke Richardson: Seven Principles Help Air Force Make Contract Spending Decisions News

Lt. Gen. Duke Richardson: Seven Principles Help Air Force Make Contract Spending Decisions

Lt. Gen. Duke Richardson, military deputy in the Office of the Assistant Secretary of the Air Force for Acquisition, Technology and Logistics, has said the service branch uses seven principles on deciding how to manage its budget for contracts, Federal News Network reported Friday.

Sweden Plans $1B Raytheon Missile Defense System Procurement Contract Awards

Sweden Plans $1B Raytheon Missile Defense System Procurement

Sweden plans to begin formal negotiations with the U.S. government to procure a Raytheon-built (NYSE: RTN) missile defense system for an estimated $1.2 billion, Reuters reported Wednesday. The Swedish defense materiel administration on Tuesday received government approval to send a letter of request on the Patriot weapon procurement to the U.S. Patriot consists of radars, command-and-control technology and