Reshef Technologies wins large Defense Ministry fuse order

Reshef Technologies plant in Sderot credit: Ministry of Defense spokesperson

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Orders within Israel by the the Ministry of Defense Department of Production and Procurement amount to tens of billions of shekels since the Swords of Iron war began.

The Ministry of Defense has placed a NIS 210 million order for artillery shell fuses with Reshef Technologies of the Aryt Industries (TASE: ARYT) group.

Reshef Technologies, located in Or Yehuda and Sderot, develops and produces electronic fuses, and employs about 80 people, most of them residents of Sderot. The order is further to previous orders from the company since the outbreak of the Swords of Iron war amounting to NIS 140 million for advanced fuses for IDF ground forces.

This is one of several orders placed by the Ministry of Defense Department of Production and Procurement with Israeli companies in the past few months. Total procurement within Israel since the war began amounts to tens of billions of shekels. One of the most prominent orders was worth NIS 150 million for over 200 armored vehicles for security details in settlements along the Gaza Strip border and in northern Judea and Samaria.

The vehicles were ordered from two companies, Plasan Re’em and Fightech.

Published by Globes, Israel business news - en.globes.co.il - on June 23, 2024.