Elbit subsidiary divests Ashot
Ashot produces and tests a 1,500hp main automated transmission that is used in heavy-duty vehicles. (Photo: Ashot Ashkelon Industries)
Israeli private equity firm buys manufacturer of aero engine and drivetrain components.
Elbit Systems subsidiary IMI Systems is selling its stake in Ashot Ashkelon Industries to Israeli private equity firm FIMI Opportunity Funds, pending regulatory approval.
The deal is worth about $88 million, Elbit announced on 21 October.
Ashot specialises in the manufacture of jet engine shafts, transmissions, gears and gearboxes, landing gear components and tungsten products for the aerospace, defence and heavy automative industries.
It works with component manufacturers and OEMs such as Boeing, Collins Aerospace, Honeywell and Sikorsky.
The sale of Ashot ‘is consistent with our strategy to focus on our core areas of business’, Elbit president and CEO Butzi Machlis explained.
More from Defence Notes
-
![Companies’ results boom as countries dig deep to buy missiles and air defence systems]()
Companies’ results boom as countries dig deep to buy missiles and air defence systems
Air defence systems are continuing to appear top of countries’ shopping lists but broadly across different capabilities it is a sellers’ market, as demonstrated by backlogs and double-digit percentage point growth.
-
![Details revealed on Germany’s big spending plans]()
Details revealed on Germany’s big spending plans
In May this year, German Chancellor Friedrich Merz said the government plans to position Germany as “Europe's strongest conventional army”. A new blueprint outlines how this is going to occur through massive investment.
-
![European Council to deliver at “pace and scale” on European defence readiness 2030 roadmap]()
European Council to deliver at “pace and scale” on European defence readiness 2030 roadmap
Two of the concrete projects outlined in the readiness report, the European Air Shield and Space Shield, will aim to be launched by Q2 2026.
-
![Malaysia’s defence budget sets out major procurement goals for 2026]()
Malaysia’s defence budget sets out major procurement goals for 2026
The country has allocated RM21.70 billion for defence spending next year, with some major procurements set to be initiated across the country’s army, navy and air force.
-
![GAO highlights the need for more commercial data and availability improvements]()
GAO highlights the need for more commercial data and availability improvements
The US Government Accountability Office recently released two reports; one into the availability of selected equipment and another looking at how the government gets data and intellectual property rights through contracting.
