Israel Military Industries (IMI) has won a tender to supply munitions to the Spanish army, according to a report on diariopalentino.es. This is a six-year agreement amounting to 41 million euros. IMI competed against the Spanish company Nammo. Under the agreement, IMI will provide 68 million of 5.56 mm rounds throughout six years.
For IMI, which is currently in the process of privatization, this is good news. IMI Chairman, Maj. Gen. (res.) Udi Adam recently stated that the privatization of IMI is progressing as planned and is at the point of no return. In 2016, IMI Systems will operate as a privately owned business, which will focus on core areas in which the Company has a technological leadership advantage that is adapted to a dynamic and changing market. The Company's main objective is to privatize itself with a high financial value for the State of Israel - while expressing the company's technological capabilities, centers of knowledge and quality of human resources.