Israel Shipyards Industries Expands Global Footprint with $62M Naval Deal

Israel Shipyards Industries continues to expand its operations in the international market. The company reported today (Wednesday) the signing of a significant agreement to supply four vessels and related services to a foreign government client, totaling approximately $62 million. The deal, which will be executed through a third party, is expected to span a delivery period of 24-36 months.

According to the terms of the agreement, beyond the construction of the vessels themselves, Israel Shipyards will provide professional training to enable the assembly of some of the vessels in the client's country, alongside a full training package in the fields of operation and maintenance.

Eitan Zucker, CEO of Israel Shipyards, commented on the achievement: "The current order is further evidence of Israel Shipyards' positioning as a global player. The experience and advanced technology we implement in our vessels are what allow us to win complex international projects."

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The Future Generation of the Navy: The 'Reshef' Vessel

Parallel to its international activities, the shipyard is in the midst of the 'Reshef' project for the Israeli Defense Forces (IDF), valued at approximately NIS 2.4 billion. The 'Reshef' vessels (S-80 model) are based on an independent design by Israel Shipyards and are intended to replace the legendary 'Nirit' (Sa'ar 4.5) ships, which have served in the Navy for decades.

The 'Reshef' is considered a technological leap: it will be larger and more versatile than its predecessors, with advanced defensive and offensive capabilities designed to deal with new threats in the maritime arena, including the protection of Economic Exclusion Zones (EEZ) and gas rigs. The ship will be equipped with Israeli-made combat systems, strengthening Israel's defense production independence.

One Group - Diverse Activities

Israel Shipyards Industries, managed by Zvika Schachterman, is a multi-disciplinary group owned by Shlomi Fogel, Sami Katsav, the Schmeltzer family, and the Gold Bond Group. Under it operates the Israel Shipyards company, managed by Eitan Zucker, responsible for the design and construction of vessels, alongside the Israel Shipyards Port company, which operates the first private port in the country. The group is also active in the fields of maritime transport, construction materials, and logistics for the energy sector.