Bet Shemesh Engines wins $35m MTU follow-on deal

engine parts

The Israeli company will supply narrow body parts and other engine parts for the German company's executive jets.

Israeli company Bet Shemesh Engines Ltd. (TASE:BSEN) notified the Tel Aviv Stock Exchange today that it has won a $35 million follow-on order to supply engine parts to German aerospace manufacturer MTU. The company's share price rose 4.34% today on the news, and is up 20% since the start of the year, giving the company a market cap of NIS 180 million.

Bet Shemesh Engines will supply German company Geared Turbofan with $8.5 million of new narrow body parts. In addition, Bet Shemesh Engines has extended its agreement with MTU to provide engine parts for executive jets worth another $26.5 million.

Bet Shemesh Engines said that no detailed timetable has yet been set for delivering the engine parts.

Published by Globes [online], Israel business news - www.globes-online.com - on December 3, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

engine parts
engine parts
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