BREAKING NEWS

Ministry of Defense to purchase NIS 1.25b in ammunition from Elbit Systems

The Ministry of Defense will purchase NIS 1.25 billion worth of ammunition by 2030 from Elbit Systems, according to a statement it released Friday. 
The ammunition will be used for IDF Ground Forces.
The announced comes less than two months after Elbit Systems completed the acquisition of IMI Systems Ltd. for a purchase price of approximately $495 million (NIS 1.8 billion), with an additional payment of approximately $27 million (NIS 100 million) contingent upon IMI meeting agreed performance goals.
The purchase of this ammunition is part of the IMI privatization agreement, which is intended, among other things, to ensure the success of the national move to transfer the company's plants from Ramat Hasharon to the Beqa Valley in the Negev. 
This ammunition will be produced in factories in the Negev within the next decade.
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