Business in Brief: November 2

IAI unit wins border-protection deal; Satellite firm Orbit gets US Navy deal; GE buys Orbotech medical-imaging unit; Delek in talks to acquire UK’s Roadchef.

November 1, 2010 23:40
2 minute read.
delek gas station 88 298

delek gas station 224.88. (photo credit: Courtesy.)

IAI unit wins border-protection deal


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Israel Aerospace Industries Ltd. has won a $9 million contract from a foreign customer for the company’s ELM 2105 motion-detection radar system for border security. IAI announced the deal Monday during the First Israel Homeland Security International Conference in Tel Aviv. The company did not disclose the identity of the customer.

ELM 2105 radar is a member of a new family of tactical radar systems for observation and motion detection developed by IAI subsidiary Elta Systems. The radar’s advantages are derived from its configuration, which comprises two dishes that provide 360-degree coverage while turning at high speed. This feature improves the search and discovery process.

Satellite firm Orbit gets US Navy deal

Globes correspondent

Orbit Alchut Technologies Ltd. subsidiary Orbit Communications Systems Inc. has won a NIS 2.6 million order for two telemetry tracking systems from the US Navy Patuxent River Naval Air Station in Maryland. The order boosts Orbit’s backlog for tracking systems to NIS 45m. so far this year, 70 percent more than in the corresponding period of 2009.

The telemetry tracking systems will be used by the Patuxent River Naval Air Station Atlantic Test Ranges telemetry unit, one of the leading US telemetry testing centers. Last week, Orbit sold aircraft tracking and communications systems to the US National Oceanic and Atmospheric Administration for NIS 1.5m. The NOAA has an option to increase the order to NIS 3.6m.

GE buys Orbotech medical-imaging unit


General Electric Company subsidiary GE Healthcare will acquire Orbotech Ltd. subsidiary Orbotech Medical Systems Ltd. for $9 million in cash and up to an additional $5m. depending on meeting milestones. The deal is due to close during the first quarter of 2011.

Orbotech Medical Systems develops and manufactures solid-state gamma-radiation detector modules composed of Cadmium Zinc Telluride detectors for nuclear-imaging applications. The company’s customer include GE Healthcare, Royal Philips Electronics NV and Siemens AG. GE acquired Orbotech Medical Systems to strengthen its position in the three-way rivalry.

Yavne-based Orbotech Medical Systems has 50 R&D employees and outsources its other activities. The company’s cardiology-imaging technology provides extensive information on heart function.

Delek in talks to acquire UK’s Roadchef


Delek Group Ltd., controlled by Yitzhak Tshuva, is considering acquiring UK motorway-services company Roadchef from Delek Real Estate Ltd., also controlled by Tshuva, after he acquired Delek Group’s controlling interest in the company a couple of years ago. Delek Group would not pay cash for Roadchef but would write off a NIS 350 million loan granted to Delek Real Estate, which gave Delek Group a lien on 24 percent of shares in foreign subsidiaries that own Roadchef as collateral.

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