Israel to sell air defense systems to Czech Republic
- Nasdaq, S&P 500 end lower, dragged down by communications services
- Intel (INTC) Stock Plummets as Expensive Investments Expected to Pressure Margins and FCF, Prompting Three Downgrades to Neutral
- Snap (SNAP) Stock Just Crashed 25% Following Earnings, Analyst Reaction Mixed
- Beyond Meat (BYND) Stock Plunges 14% After Slashing Revenue Outlook Amid a Decrease in Retail Orders
- Dollar pares losses as Powell signals bond taper
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
JERUSALEM (Reuters) - Israel has agreed to sell air defense systems to the Czech Republic in a deal worth $520 million, Israel's Defense Ministry said on Tuesday.
The deal is for four SPYDER batteries, which is a defense system based on air-to-air missiles and is designed to intercept airborne threats including planes, helicopters and drones. The SPYDERs will be produced by Israeli defense firm RAFAEL.
"This is the first time that Israel will deliver a full air defense system to a NATO country," said Amir Eshel, director-general of Israel's Defense Ministry.
Lubomir Metnar, the Czech Minister of Defense, said the deal "will push our armed forces to the 21st century in the air defense domain."
Czech defense industries will also be involved in carrying out the agreement, the ministry said.
(Reporting by Ari Rabinovitch; Editing by Steven Scheer)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Canadian Coast Guard says monitoring container ship fire
- Colombia nabs Otoniel, drug kingpin and gang leader -government
- U.S. envoy urges N.Korea to end 'provocations', accept offer of talks
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!