Israel Military Industries won a tender Tuesday for around $300 million to supply the U.S. army with ammunition. IMI said this is their biggest ammunition deal with the U.S. army to date.
IMI will supply light ammunition for rifles and machine guns, which will be produced in its 'Yitzhak' factory in Upper Nazareth. The deal will double the factory's scope of activity. It currently employs 350 workers, and has a revenue today of over $60 million a year.
The Yitzhak factory produces light ammunition principally for American forces operating in Iraq, the Israel Defense Forces, the police and the Israeli defense establishment, as well as various western European clients.
IMI Chairman Ovadia Eli said the success is a significant achievement for the company and represents an important stage in its growth, and that is likely enable it to win additional international tenders. According to Eli, the deal establishes the standing of IMI as an essential supplier for the U.S. army.
2 hours ago