US okays Finnish procurement of Israel's David's Sling

David's Sling credit: Ministry of Defense Spokesperson
David's Sling credit: Ministry of Defense Spokesperson

Finland will pay €316 million for the advanced missile defense system.

The US State Department this evening informed Israel's Minister of Defense Yoav Gallant that it had approved the sale of the David's Sling missile defense system to Finland for €316 million. The decision comes three months after Israel fired the David's Sling missile system for the first time during Operation Shield and Arrow to intercept Islamic Jihad missiles from Gaza targeting Israel.

David's Sling has been developed by Israel's HOMA Administration in MAFAT (Administration for the Development of Weapons and the Technological Infrastructures) at the Ministry of Defense and the US Missile Defense Agency (MDA), led by Rafael and Raytheon. The system is designed to intercept advanced threats including ballistic missiles, cruise missiles, aircraft and drones.

As part of the deal, Israel will sell Finland the David's Sling system, including interceptors, launchers and radar, based on the Israeli system. The Finnish version will be produced in cooperation, between the partner industries in Israel and the US, led by the Rafael and Raytheon, as well as various companies in Finland, which will fulfill specific tasks. David's Sling will be connected to a Finnish command and control system.

Gallant said, "Thanks to groundbreaking technologies developed by the defense industry’s brightest minds such as David’s Sling, we are able to bolster our ties with countries around the world, strengthen our security, and enhance Israel’s global position. I’m confident that this agreement will constitute a new milestone in the cooperation between our countries that will improve our response to global and regional threats."

Published by Globes, Israel business news - en.globes.co.il - on August 2, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

David's Sling credit: Ministry of Defense Spokesperson
David's Sling credit: Ministry of Defense Spokesperson
Fencing goes up Petah Tikva's Segula neighborhood  credit: NTA The Metro is really happening

Although there are skeptics who doubt that the project will ever be realized, there are now enough signs on the ground to indicate that they are probably wrong.

Ben Gurion airport Terminal 1 credit: Shutterstock Ben Gurion airport's Terminal 1 reopens

Terminal 1 at Ben Gurion airport reopened yesterday to domestic flights, while international flights will start using the terminal from Sunday, March 30.

Minister of Interior Moshe Arbel credit: Cadya Levy Interior Minister: There is no deep state in Israel

Minister of Interior Moshe Arbel told the Globes Services conference that civil servants are dedicated employees who serve the public.

Minimum wage credit: Tali Bogdanovsky Minimum wage in Israel to rise next week

The monthly minimum wage in Israel will be revised upwards by 6%.

Bank of Israel  credit: Shutterstock/Alon Adika Bank of Israel slams gov't fiscal policy

Governor Prof. Amir Yaron wrote in the annual report that the government's measures are not enough to ensure a sustained decline in debt-to-GDP ratio.

Minister of Justice Yariv Levin credit: Noam Moskovitz Knesset Spokesperson Knesset passes Judicial Selection Law

The new law makes judicial appointments subject to political control.

Airbnb credit: Reuters Knesset ignores Airbnb tax evasion loophole

The Israel Hotels Association has slammed the government's indifference to tax evasion by Airbnb landlords, which it insists promotes unfair competition.

GMT CFO Eran Tibon credit: PR Political tensions tempt Israelis to move funds abroad

According to data from advanced financial services company Global Money Transfer, steps taken by the Israeli cabinet to oust Shin Bet chief Ronen Bar, and Attorney General Gali Baharav-Miara, could cause capital to flee Israel.

Sde Dov credit: Guy Yehieli Tenders close for 2,744 more homes in Sde Dov

Four tenders closed last month for the north Tel Aviv district saw a decrease of about 40% in the prices of land, and there is great interest in the prices these latest tenders will fetch.

Rafael CEO Yoav Turgeman credit: Rafael Spokesperson Rafael CEO: Iron Beam will be ready in 2025 as promised

In presenting record financial results for 2024, Yoav Turgeman tells "Globes" that the high energy laser weapon system will be operational this year.

Tel Aviv credit: Shutterstock Rent rises moderate due to emigration and reserve duty

Rents only rose 4% in 2024, the Bank of Israel reports, despite the large number of evacuees, due to the negative migration balance and the large number of young people in the army reserves.

Moody's, Benjamin Netanyahu, Bezalel Smotrich, credit: Shutter stock, Government Spokesperson, Tali Bogdanovsky Moody's: Political risks weigh on Israel's rating

"Israel's sovereign credit profile reflects very high political risks that have weakened economic and fiscal strength."

Stef Wertheimer  credit: Reuters Industrialist and philanthropist Stef Wertheimer dies aged 98

Wertheimer founded Iscar, which was sold to Warren Buffett's Berkshire Hathaway, and was behind many industrial and social initiatives, as well as having a brief political career.

Island founders Dan Amiga and Mike Fey credit: Antonio Delucci Browser security co Island raises $250m at $5b valuation

The company has developed a communications technology that enables fast remote connection to corporate computers.

Yossi and Shlomi Amir  credit: Jonathan Bloom Shufersal doubles annual profit

Streamlining measures by brothers Yossi and Shlomi Amir since they took control have vastly improved the supermarket chains profitability metrics.

Africa Israel Residence CEO Ronit Eshed Levy credit: Cadya Levy "Jewish communities want to move together to Jerusalem"

Africa Israel Residence CEO Ronit Eshed Levy told the Globes Going Long on Israel investment conference about urban renewal in Jerusalem.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018