Israel Aerospace Industries (IAI) announced Tuesday that it has signed a memorandum of understanding with Tomer, an Israeli government-owned developer and producer of rocket propulsion systems, under which the two companies will expand their synergy in the fields of propulsion for rockets and missile development. The MoU includes investment in joint projects, mutual R&D and establishment of infrastructure for their respective R&D departments to develop advanced technologies in the field of rocket propulsion and innovative rocket motors that are faster and higher in quality, according to IAI.
Boaz Levy, President and CEO of IAI, said "Cooperation between Tomer and IAI over the years has advanced the State of Israel and the defense establishment in the fields of propulsion and missilery, and led to groundbreaking innovation and capabilities. This agreement highlights the importance both companies see in joint development leading to new, advanced capabilities, supporting the growth of both companies."
Mordi Ben Ami, CEO of Tomer, said "IAI is a central client of Tomer. The new MoU will boost R&D capabilities and will propel IAI's R&D capabilities to the forefront of global technology."