Elbit Systems Ltd. announced that it was awarded a contract by the Production and Procurement Directorate of the Israeli Ministry of Defense (IMOD) valued at approximately US$144 million (approximately NIS 500 million) for the supply of small caliber ammunition to the Israeli Defense Forces.
This five-year contract, work on which will commence in 2021, will be a continuation of the existing multi-year contract with the IMOD.
The work will be carried out in Elbit’s Nof Hagalil (Upper Nazareth) factory, which became part of the company in 2018 as part of the NIS 1.9 billion acquisition from the Israeli government of IMI Systems.
Israel’s Ministry of Defense said that the new contract will ensure the continued supply of ammunition to the IDF’s units.
“Even in a complex budgetary reality, the Defense Ministry is working to fulfil as many multi-year agreements as possible, alongside its support for the IDF, it is protecting the vital and quality production lines of the defense industries,” Globes quoted the Ministry of Defense’s Production and Procurement Directorate head Avi Dadon.
With more than 25 years of experience in defence publishing, Global Business Press and its industry leading titles Asian Defence Technology, Asian Airlines & Aerospace and Daily News are the leading defence publications in the region, present at more international shows and exhibitions than any other competing publication in the region.