Israel Shipyards in a big deal – $ 128 million –...


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Israel Shipyards
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Will supply vessels to the country in Asia for about $ 128 million. The agreement, which also includes the supply of various equipment and services, will be spread over a period of 3.5 years in accordance with milestones set between the parties. “The current deal illustrates the positioning of Israel Shipyards as a leading international player in the field of vessel production,” says Eitan Zucker, CEO of Israel Shipyards, “thanks to the vast experience and knowledge gained by the company during its years of operation. The deal, to the extent that it is finally approved, will lead to a significant increase in the backlog of works of Israeli shipyards, and will ensure the company growth in its revenues in the coming years. ”

As part of the transaction, Israel Shipyards will, in addition to supplying the products, upgrade the customer’s shipyard and transfer knowledge to the customer for the purpose of assembling some of the vessels in the customer’s country, as well as training customer representatives regarding the vessel’s operation, maintenance and assembly of vessels. The management of Israel Shipbuilding Industries states that the transaction is carried out as part of a government-government transaction, with the subsidiary committing to the State of Israel for the full implementation of the agreement and for control by the Ministry of Defense of the State of Israel.

Last September, Israel Shipbuilding Industries completed an initial public offering (IPO), in which it raised about NIS 340 million gross for about 20% of its shares.

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