The contract is through Ashot Ashkelon.
Israel Military Industries Ltd. (IMI) subsidiary Ashot Ashkelon Industries Ltd. (TASE: ASHO) has renewed its contract to supply electromechanical systems and stabilizers to a US aviation company. The current contract expires in December, and the new contract, worth $28 million, will be in effect in 2009-12.
Ashot Ashkelon's aviation products include trailing flap gear boxes, accessory gearboxes for turbine engines, and main drive transmissions. The company won a number of orders last year, including a $46 million contract for transmissions. The company has 700 employees.
The privatization of the company was cancelled in December, and it not clear if or when it will be renewed.
Published by Globes [online], Israel business news - www.globes-online.com - on April 3, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008