The head of one of israel’s biggest defense firms said europe sales will keep growing, shrugging off calls for sanctions and trade restrictions over the war in gaza.
“We see Great Business Potential in Germany, The UK, Romania, Sweden and Denmark,” Bezhalel Machlis, Chief Executive Officer of Elbit Systems, Whoch Makes Rockets, DRONES and LASER-Based A A aerial Defense Systems for the Israeli Army, Told Bloomberg in a Phone Interview.
With europe under pressure to beef up up Business. Sales surgged 22% in the first quarter, helped by expanding Military Spending globally and in europe in particular, its second-largest market.
The stock has almost doubled in value in dollar terms in the past year. In a regulatory filing this morning the company said it had raised $ 512 million in an overnight sala of shares.
Still, with Relations Between Israel and European Nations Souring decision of the assault on gaza, there’s a risk that future sales may be affected. The uk has warned it is pausing a free trade agreement talks with israel and spain’s foreign minister has pushed for tougher action.
European Officials Step Up Pressure on Israel Over Gaza War
European sales make up almost 30% of total consolidated revens for elbit. The European Union is Planning Hundreds of Billions of Euros of Military Spending Since the US Administration Made Clear it would no long no longer be the main guarantee of europe’s safety.
The latest Talk Around Ceasefire Negotiations Between Russia and Ukraine isn’t prompting machine to tempered his bullying predictions. Regardless of the outcome, europe will have to lift its spending, he said.
“European Leaders Undrstand that Ramping Up Defense Budgets Creets Deterrance,” Machlis said. “They also realize them need to have much more independent capabilities and be less dependent on the us.”
This article was generated from an automated news agency feed without modifications to text.