JTA NEWS
22 September 2019 - 22 Elul 5779 - כ"ב אלול ה' אלפים תשע"ט
JTA NEWS :
Business
Chroma Ate Inc. acquires 20% stake in Camtek Ltd. E-mail

Taiwan-based Chroma Ate Inc., a provider of high-precision test and measurement equipment, announced in February that it has entered into a definitive agreement to acquire a 20% stake in Camtek Ltd., a manufacturer of metrology and inspection equipment, in a cash transaction of US$74 million.

The transaction is expected to close at the end of Q2 2019, subject to approval by the relevant regulatory authorities.

Headquartered in Migdal Ha’emek, Israel, Camtek is also a provider of software solutions serving the Advanced Packaging, Memory, CMOS Image Sensors, MEMS, RF and other segments in the mid end of the semiconductors industry.

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IAI enters into agreements to supply MRSAM to India’s navy E-mail

Israel Aerospace Industries (IAI) has announced that it has entered into agreements worth US$93 million for the provision of Naval MRSAM (Medium Range Surface-toAir Missile) systems.

Under the contracts with the Indian Navy and Cochin Shipyard Limited (CSL), IAI will provide complementary systems for the air defence system (ADS). They involve follow-up orders for a range of maintenance and other services for various sub-systems of IAI’s advanced MSRAM ADS.

In January the Indian Navy, in collaboration with IAI, held an interception test aboard INS Chennai to assess, for the first time, the potential collaboration between ships. The interception scenario, which was executed successfully, demonstrated how the operational force of the defence system can be doubled regionally, rather than topically.

Boaz Levi, Executive Vice President and General Manager of Systems, Missiles & Space Group, said: “The follow-up orders provide additional evidence of the satisfaction and trust of our Indian partners with respect to the MRSAM family. The test demonstrated the advanced technological capabilities of the air defence system as well as our collaboration between IAI, its partners in India’s Navy, the local Indian industry and our colleagues at IAI’s ELTA and RAFAEL. This is a badge of honour for the entire Israeli industry.”

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Boaz Moldawsky appointed Chairman of IDI E-mail

Boaz Moldawsky, who has served as the Acting Chairman of the Israel Diamond Institute (IDI) for the past year, has been elected by IDI’s Board of Directors as its Chairman for a three-year term. The announcement was made on 5 February.

Moldawsky is a secondgeneration diamantaire whose family were amongst the founders of the Israeli diamond industry. He has been active in public service to the industry for many years, serving as Deputy President of the Israel Diamond Exchange, Chairman of the Finance Committee and a member of the board of the Israel Diamond Manufacturers Association. Moldawsky is coCEO of the Moldawsky Group, which specialises in diamonds, real estate and technology.

Moldawsky said: “I want to thank the members of the Board for putting their trust in me, and I am committed to doing everything in my power to move the Israeli diamond industry forward, to strengthen it and to further position Israel as a leading world diamond centre.”

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Israel and the Philippines eyeing joint financial protocols E-mail

According to local media reports in the Philippines, the government of Israel is proposing to establish a financial protocol with the Philippines to streamline the exchange of information on trade and investments between the two countries.

In a statement last month, the Department of Finance (DOF) in the Philippines said that during a meeting with Finance Secretary Carlos Dominguez III, Israel’s Ambassador to the Philippines Rafael Harpaz proposed the establishment of a financial protocol with Manila to promote bilateral trade and investments.

Harpaz underscored the need for a financial protocol as at least 10 Israeli companies have expressed interest in investing in New Clark City in Pampanga, which is being showcased by the Duterte administration as the country’s first smart and green metropolis, according to the DOF.

“It is something we can look into,” the Israeli envoy was quoted by the DOF as saying. The envoy also pointed out that Israel has already concluded and signed financial protocols with some other countries in the region.

Dominguez welcomed Harpaz’s proposal and tasked Finance Undersecretary Mark Dennis Joven, who heads the International Finance Group of the DOF, to co-ordinate with the Israeli Embassy on the matter.

The Finance chief also said that the Philippines and Israel can explore possible partnerships in the technology and construction sectors.

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Mobileye making more inroads into China’s autonomous car market E-mail

Israel-based Mobileye, which makes technology for autonomous driving, is expanding its business in China with two new partnerships, paving the way for smaller Israeli competitors that could benefit from Sino-US trade tensions.

Mobileye, bought by Intel in 2017 for US$15 billion, has been making inroads in China, the world’s biggest auto market, where self-driving projects are being rolled out at a rapid pace.

Mobileye has signed a Memorandum of Understanding with Great Wall Motors to integrate advanced driver-assistance systems in a range of vehicles over the next three to five years and to develop more advanced autonomous systems for China. A second partnership with Beijing Public Transport Corp. and Beijing Beytai aims to bring autonomous driving to public transport. Mobileye did not disclose financial details of the deals.

“There is a strong pull for Israeli technology in China,” said Erez Dagan, the company’s vice president of product and strategy. Mobileye signed 16 deals in China in 2018, when half of the company’s design wins were Chinese, he said.

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