JTA NEWS
17 February 2019 - 12 Adar I 5779 - י"ב אדר א' ה' אלפים תשע"ט
JTA NEWS :
Business
Chinese company in talks to acquire Colorchip E-mail

China’s Sanan Optoelectronics is reportedly in talks to acquire Israeli chip-maker ColorChip for around US$300 million.

The proposed acquisition will be conducted using Sananaffiliated private equity fund An Xin Capital. ColorChip raised US$37 million in 2017 from investors including CIRTech fund.

ColorChip was founded in 2000 by Eli Arad, who serves as VP Research and Development; Shimon Eckhaus and Prof. Shlomo Ruschin. The company’s CEO is Yigal Ezra.

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Israel-based startup GlucoMe to test diabetes-monitoring device in Vietnam E-mail

German pharmaceutical and technology company Merck KGaA signed a pilot collaboration agreement with Israelbased diabetes-monitoring startup GlucoMe Ltd. in August to test GlucoMe’s device in several hospitals in Vietnam, where it is currently being trialled.

GlucoMe develops and markets a wireless glucose and insulin monitor that records blood measurements and insulin intakes automatically and syncs with a mobile app. The patient’s personalised profile connects in real time to a digital service that includes cloud-based diabetes- management software for health professionals.

The company’s products received a CE mark (European approval), and GlucoMe is currently pursuing clearance from the US Food and Drug Administration.

According to Thai Hong Quang, the chairman of the Vietnam Association of Diabetes and Endocrinology (VADE), 5.4% of Vietnamese people – around 5 million people – have diabetes.

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Elbit Systems secures navy contract in Asia Print E-mail

Israeli defence electronics company Elbit Systems Ltd. announced on 20 September that it has been awarded a US$173 million contract to provide Naval Remote Controlled Weapon Stations (RCWS) to the Navy and Coast Guard of an Asia-Pacific country. The contract will be performed over a five-year period.

Under the contract, Elbit Systems will provide lightweight, fully stabilized dual-axis naval RCWS to be installed on a wide range of vessels. The Naval RCWS to be provided feature a 12.7mm machine gun and ammunition, Elbit Systems’ advanced firecontrol system and the company’s modular electro-optic suite.

Elbit Systems Land and C4I general manager Yehuda Vered said: “We are pleased with this contract award that attests to the quality of our systems. I am confident that the demand for the weapon stations we offer will continue to grow, as customers increasingly recognise our unique capacity to draw on an exceptionally broad portfolio to provide comprehensive operational solutions.”

(Issue Oct 2018)

 
Sichuan Airlines launches first direct flight from Chengdu to Tel Aviv E-mail

With a maiden flight on 26 September, Sichuan Airlines inaugurated its direct route from Chengdu, the capital of Sichuan Province in China, to Tel Aviv.

The airline will run two weekly flights, on Sundays and Thursdays, and will be offering passengers a connecting flight from Chengdu to Beijing, Shanghai or Guangzhou at no extra cost. The company is represented in Israel by TAL Aviation.

The flights will use Airbus 330A airliners and later Airbus A350s. Some of the company’s planes are colourfully designed, including decoration with the company’s pandabear logo. The flight time will be eight hours and 20 minutes. The flights will have 277 tourist class seats and 24 business class seats.

Commenting on the growth in passenger traffic between Tel Aviv and China, TAL Aviation president and CEO Gideon Thaler said: “It is true of both businesspeople and tourists going to China and the Far East.” The company expects the inauguration of the new route to substantially boost the number of tourists from Asia to Israel, but also expects to see more families and tourists from Israel visiting China and the Far East.”

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Bedek Group signs maintenance agreement with Hainan Airlines E-mail

Bedek Aviation Group, a subsidiary of Israel Aerospace Industries Ltd., recently entered into an official supplier agreement with HNA Group (Hainan Airlines) from China. Under the agreement, Bedek’s Engine Division will serve as the maintenance and overhaul centre for the V2500 engines of HNA Group’s airlines.

The engines will be sent to Bedek by the customers and returned to China following servicing. The signing of the agreement, which is estimated at tens of millions of dollars a year, was held at HNA Group headquarters in Haikou on 26 September.

Bedek has gained a world- wide reputation as a leading supplier of comprehensive services for passenger and cargo airplanes. Its customers include aircraft lease companies, airlines, aircraft manufacturers and cargo shippers. The new agreement with HNA Group is an important breakthrough and vote of confidence in the quality of service provided by the aviation company.

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