Military vehicle manufacturer Hatehof Ltd. (TASE:THF) has signed a NIS 42 million contract for the supply of a variety of armored vehicles for the Peru National Police. Deliveries will be made through May 2010 and the company will recognize all revenue from the project in the first half of the year.

Most of the armored vehicles are based on Hatehof's Wolf armored personnel carrier platform, developed for the IDF for a range of missions. The Wolf can carry a variety of armaments and payloads, depending on the mission.

Hatehof CEO Shimon Shaham said, I believe that this is just our initial presence in South America in general and in Peru in particular. There is no doubt that our vast experience gained with the IDF with regard to development of the Wolf vehicle, and the proof of our range of capabilities greatly helped us win the contract, beating a number of well-known armored vehicle manufacturers. We offered the most advanced technology."

The Peru police contract is Hatehof's latest large contract this year. Earlier this year, the company reported signing several contracts worth an aggregate NIS 320 million. Hatehof's share rose 7.8% by midday to NIS 1.63, giving a market cap of NIS million.

Published by Globes [online], Israel business news - www.globes-online.com - on December 21, 2009

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