JTA NEWS
23 July 2019 - 21 Tammuz 5779 - כ"א תמוז ה' אלפים תשע"ט
JTA NEWS :
Business
IAI wins big contract with India E-mail

Israel Aerospace Industries (IAI) has signed a significant deal, worth US$777 million, with Indian state-owned company BEL. IAI will supply LRSAM Air and Missile Defense (AMD) systems, the marine version of the AMD system Barak 8, for seven ships in the Indian Navy.

The LRSAM system is an operational AMD system used by Israel’s navy and India’s navy, air and land forces. It provides broad aerial and point defence against a wide range of threats to the marine arena from the air, sea or land. The system integrates several advanced state-of-the-art systems, such as digital radar, command and control, launchers, interceptors with modern RF seekers, data link and system-wide connectivity.

India maintains close relations with Israel’s defence establishment, and has entered into several substantial deals with Israeli defence companies.

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JD.com eying Israel E-mail

The management team of Chinese online shopping giant JD.com visited Israel in November, headed by Terry Song, the company’s strategic investment director. This was Song’s first visit to the country, where the company is looking for investment and strategic co-operation opportunities.

JD.com is China’s secondlargest online shopping company after Alibaba, with a 25% share of the Chinese market and over 300 million active users. The company operates from Beijing. Its shareholders include Google’s parent company Alphabet, Walmart and Tencent Holdings. It makes dozens of acquisitions and strategic partnerships each year involving companies in spheres such as travel sharing, secondhand bulletin boards and cloud computing.

According to Globes, a senior delegation from JD.com visited Israel more than a year ago, however the company has not yet made any direct investments in Israeli technologies.

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Micromedic Technologies secures lucrative China distribution deal E-mail

Tel Aviv-based cancer diagnostic producer Micromedic Technologies has signed an exclusive distribution deal in China for its innovative bladder cancer detection platform, the company announced in October.

Micromedic manages the development of a variety of cancer diagnostic products, including its non-invasive CellDetect bladder product, which significantly enhances the diagnostic accuracy of early-stage bladder tumours. The deal is the company’s first distribution agreement in China. Under the agreement, Shanghai Gensource Medical Appliances – one of a group of jointly owned Chinese companies developing, producing and marketing medical and diagnostic apparatus – will distribute Micromedic’s product to the group’s customers in 25 cities across China and more than 8,000 hospitals and medical centres.

Shanghai Gensource has also finalised its first order from Micromedic, committing to a minimum purchase of diagnostic products worth approximately NIS 500,000 by the end of 2019. From 2020, the minimum purchase requirement will increase by 10% annually.

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Yunnan Province and Israel strengthen innovation ties E-mail

Not long after Chinese Vice President Wang Qishan’s innovation-oriented visit to Israel on 22 October, a highlevel business delegation from Yunnan touched down in Tel Aviv on 31 October to deepen commercial ties.

The fourth meeting of the China (Yunnan)-Israel Innovation Cooperation Forum took place in the presence of the Vice Governor of Yunnan Province Zong Guoying and Israel’s Economy Minister Eli Cohen, and included the signing of new bilateral agreements by parties from both countries.

“Israeli innovation is one of the most knowledgeable and successful in the whole of the world,” Sun Yun, the chairman of Yunnan Investment Holdings Group (YIG), told The Jerusalem Post.

“China is one of the world’s biggest markets. We need modern agriculture. We need information technology to develop the Chinese market.”

YIG, which has assets worth approximately US$40 billion, now plans to partner with leading Israeli technology company Aman Group to use blockchain technology to build a new transaction platform in fields including finance, health and agriculture. “In the future, the YIG will focus on big data, fintech and ‘big health’ industry to strength and enhance Sino-Israeli cooperation,” said Sun. “YIG and Israeli parties shall join together to reach a win-win situation.”

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Chinese water-filtration company purchases AMS Technology E-mail

Chinese water-filtration company Newater Technology Inc. has acquired 100% of the equity of Israeli water filtration company AMS Technologies for US$13.5 million. The acquisition agreement was signed in the Chinese city of Yantai on 28 November.

Newater is a service provider and manufacturer of membrane-filtration equipment and related hardware and engineered systems that are used in the treatment, recycling and discharge of wastewater.

Based in Or Yehuda, AMS develops and markets chemically and thermally stable and resistant ultrafiltration and nano-filtration special membrane materials used in wastewater treatment. Through this strategic acquisition and additional partnerships, Newater believes it will realise vertical supply chain integration from the preparation of special membrane materials, to the production of membrane elements, to the manufacturing and assembling of the membrane equipment and projects.

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