Replies to post #44 on Defense Industries International (fka DFNS)

[midastouch017]

At the current price level, DFNS is very attractive.
I have added as well, averaging down.

GLTY,

Shalom
Dubi

[midastouch017]

Hi Rrufff,

Semi O/T, but a good indication that all goes well,

Congress approves 600m for Arrow
By NATHAN GUTTMAN
Washington

The US congress approved last week a 600 million dollar assistance package for joint defense projects, in addition to the annual American aid Israel receives.

The main component in the package, which includes several projects that are being developed and manufactured by both countries, is the Arrow anti-missile system. Congress provided 133 million dollars for the arrow, 45 million more than the administration requested for this project. The extra funding will be used to increase the pace of the production of the Arrow components in the US, in order to enable Israel to complete its anti-missile shield.

The Arrow missile is designed to intercept medium and long-range ballistic missiles, which are considered to be Israel's main strategic threat.

Yet this year's appropriation includes also a small sum of 10 million dollars which will be used for the development of a shield against short-range ballistic missile, which are deployed by the Hizbullah along Israel's northen border.

The Arrow is a decade long joint Israeli-American project and it is highly praised by the US defense establishment for its good results in intercepting missiles mid-air. While Arrow missiles are already partly deployed in Israel, the project is still undergoing experiments in order to ensure its effectiveness when faced with missiles such as the Iranian Shihab.

The second joint project funded by congress is the "Lightning" pod, which is used by jet fighter pilots for receiving quick data on targeting and navigation. The system is already used by US pilots and will be further incorporated in the US military in the following years.

The 600 million dollar package also includes funding for armor tiling for Bradley personnel carriers, for aircraft decoy systems and for the Hunter and Pioneer unmanned air vehicles.

"Congress is continuing its strong support for cutting-edge defense programs, which benefit the United States and Israel and strengthen their strategic partnership," said Josh Block, spokesman for the pro-Israeli lobby AIPAC, which played a major role in getting the package approved.

http://www.jpost.com/servlet/Satellite?cid=1134309641412&pagename=JPost%2FJPArticle%2FShowFull

Dubi

[midastouch017]

Defense Industries Int'l acquires Chemoplast Industries

{Adding a few important details to PR}

CEO Joseph Fostbinder: Downsizing of Israel's military means higher demand for dry storage systems.

Globes correspondent 25 Dec 05 20:30

Asheklon-based Defense Industries International, Inc. (Nasdaq: DFNS.OB), a manufacturer and global provider of personal military and civilian protective equipment and supplies, has acquired the operations of Chemoplast Industries (1994) Ltd., an Israeli provider of dry storage systems. According to the purchase agreement, Defense Industries has acquired Chemoplast Industries' machinery, systems, inventory, name and goodwill. No value was disclosed.
Defense Industries CEO Joseph Fostbinder said, "This acquisition, is another major milestone in our long-term growth strategy. With the expected reduction in size of the Israeli military forces, we believe that the demand for dry storage systems, a field-proven solution for quick deployment and battle-field readiness will increase. As a result of the acquisition of the operations of Chemoplast Industries, we are positioned to take advantage and capitalize upon this trend."

Defense Industries plans to leverage the synergy between Chemoplast Industries and its subsidiary, Achidatex Nazareth Elite (1977) Ltd., which is engaged in the production of long term storage systems, to enhance its offerings in its target markets and to increase its market share.

Chemoplast Industries is a producer of high quality plastic products. For over 40 years, Chemoplast Industries has introduced a diversified product range, innovative production processes and technologies. It acquired international know-how and expanded its manufacturing capabilities, becoming one of Israel's industry leaders in the field of sheet plastic and laminate fabrication production. Chemoplast Industries currently specializes in the production of controlled dry storage systems for tanks, armored personnel carriers and other military vehicles and of equipment that require battlefield readiness and quick deployment such as collapsible liquid storage tanks, mobile silos for storage of grains, liners for tanks shipping systems, custom-made covers for artillery, vehicles, communication equipment, tarpaulins, various technical products and special-purpose defense items.

Defense Industries is a manufacturer and provider of personal military and civilian protective equipment and supplies. Defense Industries' main products include body armor, bomb disposal suits and bullet-resistant vests and jackets; ballistic wall covers, helmets, plates and one-way protective windows; personal military equipment, battle pouch units and combat harness units; dry storage units, liquid logistics, tents and vehicle covers; winter suits, sleeping bags and backpacks. The company's manufacturing facilities meet US EQNET and international ISO 9001 standards. Main customers include the Israel Defense Forces, the North Atlantic Treaty Organization (NATO), the United Nations Peacekeeping Forces and other U.N. organizations. The company has two main subsidiaries Export Erez Ltd. and Achidatex Nazareth Elite (1977) Ltd.

Published by Globes [online], Israel business news - www.globes.co.il - on Sunday, December 25, 2005

http://www.globes.co.il/serveen/globes/docview.asp?did=1000043401&fid=942

Dubi