The company has seen an increase in orders for its infantry night-vision and laser systems following the Second Lebanon War.
ITL Optronics Ltd. (TASE: ITL) has received a NIS 30 million Ministry of Defense order for infantry night-vision and laser systems. Most of the deliveries will be made this year, with the rest in 2008.
Since last summer’s Second Lebanon War, the Ministry of Defense and IDF have increased their orders from the company.
ITL has also signed a NIS 15 million contract with an Asian country, and a NIS 2 million contract in a Western European country. The company has also obtained a $1 million grant from the US Marine Corps to develop future infantry battle dress, as part of a competition with General Dynamics Corp. (NYSE:GD) in a $50 million tender.
Published by Globes [online], Israel business news - www.globes.co.il - on June 5, 2007
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