19 July 12 14:35–Italy’s Finmeccanica SpA (BIT: FNC) has signed $850 million in contracts in Rome with Israel’s Ministry of Defense for the sale of 30 M-346 advanced trainers to Israel. The contract is in the framework of a collaboration agreement between the Italian and Israeli governments. The contracts were signed through Italian operational companies Alenia Aermacchi, Telespazio and SELEX Elsag.
Alenia Aermacchi will provide the jet trainers, including aircraft, engines, maintenance, logistics, simulators, and training, for a total value of $1 billion, of which $600 million will accrue to Alenia Aermacchi.
Deliveries of the M-346s will begin in mid-2014. The jet trainers will replace the Israel Air Force A-4 Skyhawks.
The deal includes reciprocal procurement and Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) will build a high-resolution optical military satellite system for Earth observation, called OPTSAT-3000, for Telespazio, the prime contractor for the $200 million satellite, launch services, operational and logistical activities, and in-orbit testing and the commissioning for the Italian Ministry of Defense. IAI is due to deliver the satellite in 2015…Read More>>