Israel Shipyards

growth-positive

Israel Shipyards has announced the launch of the first of four Shaldag MK5 patrol boats for the Israeli Navy, purchased for coastal defense purposes. The acquisition, worth approximately 100 million shekels, was announced by the Ministry of Defenses Procurement Administration in July 2021. Israel Shipyards Shaldag MK5 patrol boats are sold to various fleets around the world, including recently to the Philippines and Senegal.

growth-positive

Israel Shipyards raised NIS 340 million in an oversubscribed IPO on the Tel Aviv Stock Exchange, valuing the company at NIS 1.7 billion. Many of Israels leading institutional investors participated in the offering. Israel Shipyards is involved in designing, building, maintaining, repairing, and providing services for shipping vessels, both naval and civilian. They also handle cargo loading and unloading in ports and are involved in industrial products like cement. The IPO signifies growth for the company.

growth-positive

Israel Shipyards has delivered an offshore patrol vessel to the Honduras Navy as part of a cooperation agreement signed between Israel and Honduras. The vessel, named General José Trinidad Cabañas, is scheduled to arrive in Honduras by the end of the month or early January 2020. The vessel has a length of 62m, displaces approximately 500 tonnes, and has a maximum speed of 32 knots. It is based on the combat-proven SAAR 4.5 design used by the Israeli Navy and is equipped with various systems and weapons. Additionally, the Honduras Navy will receive two more remote-controlled weapon stations for existing vessels from Elbit Systems.

growth-positive

Saab has received an order worth AUD56 million (USD37.2 million) from the Australian Department of Defense for additional Carl-Gustaf M4 rifles.

growth-positive

Israel Shipyards Ltd. has launched a new offshore patrol vessel (OPV) for the Cypriot Navy. The OPV, based on the SAAR 4 and SAAR 4.5 ships in service with the Israel Navy, has a displacement of 430 tons and will be used to protect the Exclusive Economic Zone (EEZ) of Cyprus. The project is valued at tens of millions of Euros. The launch ceremony was attended by senior members of the Cypriot Ministry of Defence and representatives of SIBAT. Israel Shipyards CEO expressed gratitude to the Cyprus Ministry of Defence for their trust in the company.

growth-negative

Clal Industries, controlled by billionaire Len Blavatnik, is in negotiations to sell its 19% stake in Israel Shipyards to its partners in the company. The sell-off is part of Clal Industries strategy to focus on its core business and divest from minority holdings. If the negotiations are successful, Gold Bond Group Ltd. will acquire 4.5% of Israel Shipyards shares, increasing its stake to 25%. Israel Shipyards reported a decline in revenue and profit in 2016, particularly in its marine sector. Clal Industries also recently announced its intention to sell its stake in beverages company Jafora-Tabori. The company was delisted from the Tel Aviv Stock Exchange three years ago and separated from the capital market in 2015.

growth-positive

Israel Shipyards has signed a major arms deal with a foreign country worth over NIS 1 billion. The details of the agreement are under a gag order, but it is expected to include the purchase of marine systems and weapons from other defense industries. The deal will help develop Israel Shipyards and lead to the hiring of new workers. The company, founded in 1959, is known for manufacturing Navys Saar missile boats. Israels security exports totaled $7.5 billion in 2012, making up 10% of the countrys exports.