Procurement Article Index : Current 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
 Latest
 News 		  Most
 Read 		  Most
 Commented		  Hot
 Topics

December 7, 2001

Israeli Military Industries is in deep debt and deeper trouble. Suppliers have refused to ship materials to the company as it cannot pay its bills. The government (which has given the state-owned company $1.23 billion over the last decade) refused a recent request for another $50 million. The company is hurting due to a drop in export sales and government orders. It is a key supplier of smart bombs and the Merkava-4 tank.--Stephen V Cole