Elbit gets $183 million munitions deal from Israeli Defence Ministry

Reuters01-27
Elbit gets $183 million munitions deal from Israeli Defence Ministry

JERUSALEM, Jan 27 (Reuters) - Israel's Defence Ministry said on Tuesday it had signed a multi-year agreement for air munitions with Elbit Systems ESLT.TA, ESLT.O worth $183 million.

The agreement will expand Israel's defence industrial base and strengthen the military's capabilities for the immediate future and the challenging security decade ahead, the ministry said.

"Expanding Israel's defence industrial base is a top-tier security and national priority," said Defence Minister Israel Katz.

"Throughout two years of war across seven different fronts, Israeli defence industries have demonstrated their vital role in delivering operational superiority and enabling the IDF's (Israel Defense Forces) success - in the air, at sea, on land, and across every theater," he said.

Katz said his policy was to grow Israel's defence sector in a way that deepens partnerships with local firms, leading to a stronger economy.

Amir Baram, director general of the ministry, said a host of agreements would enable inventory replenishment and procurement for years ahead.

Elbit, Israel's largest defence firm, has previously supplied the ministry with a range of precision munitions that "have proven themselves in the field and contributed significantly to Israel's air superiority across multiple theaters," said CEO Bezhalel Machlis.

(Reporting by Steven Scheer. Editing by Mark Potter)

((steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters Messaging: X: @StevenMScheer))

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