JTA NEWS
20 October 2018 - 12 Heshvan 5779 - י"ב חשון ה' אלפים תשע"ט
JTA NEWS :
Business
LRSAM missile from Israel delivered to India E-mail

India announced on 29 August that the first long-range surface-to-air missile (LRSAM) system had been delivered to the Indian defence ministry.

The missile is a product of a partnership between Israel’s aerospace industry and the Indian defence organisation. Israel Aircraft Industries (IAI) announced in May that it had signed a deal worth US$630 million with Indian state-owned Bharat Electronics Limited.

As part of the agreement, IAI supplied the LRSAM missile, the marine version of the Barak 8 air defence system, to be installed on four Indian Navy vessels.

Arun Jaitley, India’s Minister of Defence, praised the delivery, affirming that it marked a turning point for India’s defence capabilities.

“This is an historical day for India, in which our navy becomes the proud owner of one of the most sophisticated systems in the world. This system will help the Indian Navy protect our country,” he said.

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Elbit Vision wins order from Taiwan E-mail

Israel-based Elbit Vision Systems Ltd., a pioneer in the science of camera-based automatic vision inspection for textile fabrics and technical webs, announced on 19 September that it had received an order totalling over UD$650,000 from a Taiwanese customer.

The order, involving both IQ-TEX4 and SVA systems, was placed by a customer that had previously bought a single IQ-TEX4 system. The systems will be installed in factories in both Taiwan and the US by the end of this year.

Sam Cohen, CEO of EVS, commented: “We are very pleased with this follow-on order from a very important and influential customer. Their positive experience with our systems and the quick return on their investment demonstrates how an initial penetration of our technology leads to a strong, lasting partnership. ”

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Japanese firm acquires Israeli pharmaceutical company NeuroDern Print E-mail

Israeli pharmaceuticals company NeuroDerm Ltd has been sold for US$$1.1 billion. The buyer is Japanese company Mitsubishi Tanabe Pharma Corporation (MTPC). The transaction is the largestever acquisition of an Israeli healthcare company, and one of the largest acquisitions of an Israeli company of any kind.

NeuroDerm is a clinicalstage pharmaceutical company developing drug-device combinations for central nervous system (CNS) disorders. The acquisition by MTPC has received unanimous approval by NeuroDerm’s board of directors. Assuming typical regulatory and shareholder approval timeframes, NeuroDerm anticipates that the transaction will close in the fourth quarter of this year.

“We believe that this transaction will yield important benefits for NeuroDerm’s shareholders and the Parkinson’s disease patients who urgently need new therapies,” said Dr Oded Lieberman, CEO of NeuroDerm. “MTPC has demonstrated development and commercialisation expertise in the field of neurology and we are confident that the combination of their resources and the robust data supporting ND0612, our Phase III Parkinson’s disease product candidate, will help make this important new therapy available as broadly and rapidly as possible.”

(Issue Sep 2017)

 
Camtek sells its PCB business to Shanghai investment group E-mail

Israeli semi-conductor company Camtek Ltd recently signed a definitive agreement with an affiliate of Principle Capital, a Shanghai-based private-equity fund, to sell its printed circuit board (PCB) business for US$35 million.

Camtek CEO Rafi Amit said: “This agreement is in line with our long-term strategy. Camtek will become a pureplay semiconductor inspection and metrology-focused company, where we see many growth opportunities ahead. Our stronger balance sheet will also make it easier for us to explore synergetic acquisitions in our sector. Camtek as a semiconductor company will potentially present higher growth rates with improved gross margins.”

He added: “This agreement will enable Principle Capital to build a leading Asia based PCB inspection and metrology company, capitalising on our well-positioned PCB unit.”

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Autotalks expanding operations in Asia E-mail

Autotalks, the Israeli V2X (Vehicle to Everything) communication solutions developer, is expanding its operations with the opening of two offices in Japan and a third in South Korea. These offices will provide close local support to car manufacturers and automotive Tier-1 suppliers across Asia and the Pacific. Autotalks is continuing to expand these offices, and is hiring local staff.

Heading the company’s Asia-Pacific organisation and business operations is Ram Shallom, Autotalks’ VP of Business Development and Marketing Asia-Pacific, who relocated from the company’s headquarters in Israel to the new office in the Tokyo area. Shallom, who joined Autotalks three years ago, has over 10 years’ experience in international business development and marketing, as well as large-scale project and R&D management, while working very closely with the AsiaPacific region.

Autotalks’ office in Nagoya will provide R&D and technical support to customers and partners in Japan. It is headed by Gilad Meller, who has over eight years of experience in leading V2X R&D and managing customer V2X projects.

Hand-in-hand with Autotalks’ rapidly growing business in South Korea, a site in Seoul was recently established with the target of delivering R&D and technical support services to the company’s customers and partners in the country. Autotalks recently recruited Eunho Kim, a local Technical Manager with vast experience in V2X development, to its Seoul site.

Autotalks’ expansion into Asia was accelerated significantly in 2016 with the decision by DENSO, a Japanese electronics giant, to incorporate the company’s V2X chipset into the V2X platform it provides to car manufacturers. The mass production of the V2X solution, initially designed for the North American market, is expected to begin in 2019.

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