The United States Congress approved this week a USD 17 million budget to the America Navy, to be used to purchase Israeli made ITALD missiles during 2006-2008.
The ITALD missiles, used to deceive and saturate enemy integrated air defenses during strike aircraft operations, have been used by the America Navy since 1996. The missiles have a long operational range and are navigated by satellites.
Until today, Israel Military Industries (TAAS) received over USD 100 million worth of orders from the U.S. for the weapons. The company is currently focused on developing an advanced version of the missile.
"TAAS' missiles fit the future battlefield concept," CEO Ovadia Ali said. "TAAS has been putting plenty of resources into marketing and research, in order to manufacture products that meet the operational needs of the American forces, which are one of our target clients, as well as other advanced armies in Europe and Asia."
However, the government-owned company has been experiencing financial difficulties over the past few years.
The government has recently announced it plans to sell the company to private entrepreneurs, who will relocate it to the southern Negev region, and sell the lucrative land where TAAS' factories are currently located.
The privatization process was set in motion three months ago.