Ashot Ashkelon: Difference between revisions

Ashot Ashkelon Industries Ltd
Native name	עשות אשקלון תעשיות
Company type	Public company
Traded as	TASE: ASHO
Industry	Defense, Automotive
Founded	1951; 73 years ago
Founder	Efraim Ilin
Headquarters	Ashkelon, Israel
Revenue	₪ 340.93 million (2015)
Net income	₪ 17.24 million (2015)
Total equity	₪ 224.25 million (2015)
Number of employees	560 (2015)
Parent	Efraim Ilin (1951–67); IMI Systems (1967–18); Elbit Systems (2018–22); FIMI (2022–present, 85%);
Subsidiaries	Reliance Gear Corporation
Website	www.ashot.co.il

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Ashot Ashkelon Industries Ltd (TASE: ASHO) is an Israeli manufacturer of build to print products such as: gears, transmissions and gearboxes to the Aerospace,^[1] Military, and Automotive industries. Headquartered in Ashkelon, it has 560 employees.^[2]

Ashot was a subsidiary of the Israel Military Industries Ltd. (IMI, also known as IMI Systems and later Elbit Systems Land)^[3] and is publicly traded on the Tel Aviv Stock Exchange. Following the purchase of IMI by Elbit Systems in 2018, it was controlled by Elbit Systems Land.

On June 30, 2022, FIMI Opportunity Funds acquired a majority stake in Ashot for $84 million.^[4]

History

Ashot Ashkelon was founded in 1951 as Kaiser-Ilin Industries by businessman Efraim Ilin.^[5] Initially as a factory for assembling Kaiser-Frazer cars and Mack Trucks under license; Kaiser-Ilin had two production sites, one in Haifa (which opened in 1951) where the vehicle assembly line was based and one in Ashkelon (which was opened in 1960), for manufacturing spare parts for automotive equipment, gears and metal-working machinery.^[6]

During the 1960 the company got into financial difficulties and the vehicle assembly line was closed; the Ashkelon plant continue to operate at a loss. In 1967, it was acquired by Israel Military Industries and its name changed to Ashot Ashkelon Industries.

In 1990, Ashot signed a long term supply contract with Boeing to manufacture transmission systems used in the rudder mechanisms of Boeing 747 and Boeing 757 aircraft.^[7]

In 1992, the company had an initial public offering on the Tel Aviv Stock Exchange. The same year, the company signed a 20 years frame agreement with the Allison Engine Company, at the time a division of General Motors, to manufacture parts for 20 different engine types. The agreement was estimated to represent a total potential income of $100–140 million.^[8]

In 2007, Ashot won a tender to manufacture the Drivetrain and hydro-mechanical suspension enabling cross-country mobility, for both the Merkava Mk. 4^[9] tank and the Namer Armoured personnel carrier.^[10]

In 2011, Ashot acquired Illinois based Reliance Gear Corporation, a manufacturer of custom and precision gearing that was founded 1965, which today operates as a fully owned subsidiary of Ashot.^[11]

Products

Aerospace

Defense

Transmissions and Gears
Final Drives
Penetrators and Fragmentation Parts
Suspensions

Automotive

Power take off units
Automatic transmissions
Transmission range shaft
Clutch independent drives
Mass transit gearboxes
Drive axles
Oil pumps

References

^ Hybrid-Electric Propulsion For Rotax Archive
^ "About Ashot". Archived from the original on 2009-03-09. Retrieved 2009-01-08. Official About Page
^ Israel Defense (13 August 2012). "Another deal for Ashot Ashkelon". Israel Military Industries. Archived from the original on 5 November 2012. Retrieved 17 April 2013.
^ "Elbit Systems Completes the Sale of Ashot to FIMI Opportunity Funds for $84 Million". PR Newswire. Retrieved 2022-12-30.
^ Kaiser-frazer Company Announces Establishment of Automobile-assembly Plant in Haifa, March 8, 1950
^ American Kaiser Company Plans Three New Factories in Israel, September 26, 1958
^ Ashot gets $48 M Boeing orders, Israel Business Today, May 29, 1992
^ Ashot frames GM. (Ashot Ashkelon Industries' aircraft engine contract with General Motors Corp. Allison Transmission Div.) Israel Business Today, 14 August 1992
^ International debut for Israel's Newest Merkava Mk4, Defense Update, Oct 2010
^ Enter the Namer - An update on the Merkava based Infantry Fighting Vehicle, Defense Update, Oct 2010
^ Ashot Ashkelon: Defense industry success story The defense contractor's revenue has risen from NIS 17 million to NIS 230 million within seven years Archived June 3, 2016, at the Wayback Machine, Yuval Azulai, Globes 28/03/2013

External links

Official website

[1] Hybrid-Electric Propulsion For Rotax Archive

[2] "About Ashot". Archived from the original on 2009-03-09. Retrieved 2009-01-08. Official About Page

[ID-3] Israel Defense (13 August 2012). "Another deal for Ashot Ashkelon". Israel Military Industries. Archived from the original on 5 November 2012. Retrieved 17 April 2013.

[4] "Elbit Systems Completes the Sale of Ashot to FIMI Opportunity Funds for $84 Million". PR Newswire. Retrieved 2022-12-30.

[5] Kaiser-frazer Company Announces Establishment of Automobile-assembly Plant in Haifa, March 8, 1950

[6] American Kaiser Company Plans Three New Factories in Israel, September 26, 1958

[7] Ashot gets $48 M Boeing orders, Israel Business Today, May 29, 1992

[8] Ashot frames GM. (Ashot Ashkelon Industries' aircraft engine contract with General Motors Corp. Allison Transmission Div.) Israel Business Today, 14 August 1992

[9] International debut for Israel's Newest Merkava Mk4, Defense Update, Oct 2010

[10] Enter the Namer - An update on the Merkava based Infantry Fighting Vehicle, Defense Update, Oct 2010

[11] Ashot Ashkelon: Defense industry success story The defense contractor's revenue has risen from NIS 17 million to NIS 230 million within seven years Archived June 3, 2016, at the Wayback Machine, Yuval Azulai, Globes 28/03/2013

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@@ Line 12: / Line 12: @@
 | trading_name        =
 | native_name         = עשות אשקלון תעשיות
-| native_name_lang    = <!-- Use ISO 639-1 code, e.g. "fr" for French. For multiple names in different languages, use {{lang|[code]|[name]}}. -->
-| romanized_name      =
 | type                =[[Public company]]
 | traded_as           = {{TASE|ASHO}}
 | ISIN                =
-| industry            = [[Defence]], [[Automotive]]
+| industry            = [[Defense industry|Defense]], [[Automotive]]
 | founded             = {{start date and age|1951}}
 | founder             = [[Efraim Ilin]]
@@ Line 23: / Line 21: @@
 | hq_location_city    = [[Ashkelon]]
 | hq_location_country = [[Israel]]
-| coordinates         =
-| num_locations       =
-| num_locations_year  = <!-- Year of num_locations data (when known) -->
-| area_served         = <!-- or: | areas_served = -->
 | key_people          =
 | products            =
-| brands              =
 | services            =
 | revenue             = {{profit}}[[New Israeli Shekel|₪]] 340.93 million
@@ Line 41: / Line 34: @@
 | equity              = [[New Israeli Shekel|₪]] 224.25 million
 | equity_year         = 2015
+| parent              = {{ubl|Efraim Ilin {{smaller|(1951–67)}}|[[IMI Systems]] {{smaller|(1967–18)}}|[[Elbit Systems]] {{smaller|(2018–22)}}|FIMI {{smaller|(2022–present, 85%)}}}}
-| owner               = [[Israel Military Industries]] 85%
 | num_employees       = 560
 | num_employees_year  = 2015
-| parent              =
 | divisions           =
 | subsid              = Reliance Gear Corporation
 | footnotes           =
-| intl                = yes
 | website             = {{URL|www.ashot.co.il}}
 }}
+[[File:Allison T56-A1 Turboprop Engine Cutaway.jpg|250px|thumb|Ashot supplied parts for the [[Allison Engine Company|Allison jet engine]]]]
-'''Ashot Ashkelon Industries Ltd''' ({{TASE|ASHO}}) is an [[Israel]]i manufacturer of build to print products such as: gears, transmissions and gearboxes to the [[Aerospace]],<ref>[http://aviationweek.com/paris-air-show-2015/hybrid-electric-propulsion-rotax Hybrid-Electric Propulsion For Rotax] [http://web.archive.org/web/20150715151551/http://aviationweek.com/paris-air-show-2015/hybrid-electric-propulsion-rotax Archive]</ref> Military, and [[Automotive]] industries. Ashot is a subsidiary of the [[Israel Military Industries]] Ltd. (IMI)<ref name=ID>{{cite web|last=Israel Defense|title=Another deal for Ashot Ashkelon|url=http://www.israeldefense.com/?CategoryID=483&ArticleID=1567 |publisher=Israel Military Industries |date=13 August 2012 |deadurl=no |accessdate=17 April 2013}}</ref> and publicly traded on the [[Tel Aviv Stock Exchange]]. The company has 560 employees.<ref>http://www.ashot.co.il/About.html Official About Page</ref>
+'''Ashot Ashkelon Industries Ltd''' ({{TASE|ASHO}}) is an Israeli manufacturer of build to print products such as: gears, transmissions and gearboxes to the [[Aerospace]],<ref>[http://aviationweek.com/paris-air-show-2015/hybrid-electric-propulsion-rotax Hybrid-Electric Propulsion For Rotax] [https://web.archive.org/web/20150715151551/http://aviationweek.com/paris-air-show-2015/hybrid-electric-propulsion-rotax Archive]</ref> Military, and [[Automotive]] industries. Headquartered in [[Ashkelon]], it has 560 employees.<ref>{{cite web|url=http://www.ashot.co.il/About.html |title=About Ashot |accessdate=2009-01-08 |url-status=dead |archiveurl=https://web.archive.org/web/20090309035540/http://www.ashot.co.il/About.html |archivedate=2009-03-09 }} Official About Page</ref>
+Ashot was a subsidiary of the [[Israel Military Industries]] Ltd. (IMI, also known as IMI Systems and later Elbit Systems Land)<ref name=ID>{{cite web|last=Israel Defense|title=Another deal for Ashot Ashkelon|url=http://www.israeldefense.com/?CategoryID=483&ArticleID=1567|publisher=Israel Military Industries|date=13 August 2012|accessdate=17 April 2013|archive-url=https://web.archive.org/web/20121105112911/http://israeldefense.com/?CategoryID=483&ArticleID=1567|archive-date=5 November 2012|url-status=dead}}</ref> and is publicly traded on the [[Tel Aviv Stock Exchange]]. Following the purchase of IMI by [[Elbit Systems]] in 2018, it was controlled by Elbit Systems Land.
+On June 30, 2022, FIMI Opportunity Funds acquired a majority stake in Ashot for $84 million.<ref>{{Cite news|url=https://www.prnewswire.com/news-releases/elbit-systems-completes-the-sale-of-ashot-to-fimi-opportunity-funds-for-84-million-301578617.html/|title=Elbit Systems Completes the Sale of Ashot to FIMI Opportunity Funds for $84 Million|work=PR Newswire|access-date=2022-12-30|language=en-US}}</ref>
-[[File:Allison T56-A1 Turboprop Engine Cutaway.jpg|250px|thumb|Ashot supplied parts for the [[Allison Engine Company|Allison  jet engine]]]]
 ==History==
-Ashot Ashkelon was founded in 1951 as [[Kaiser-Frazer#Kaiser in Israel|Kaiser-Ilin  Industries]] by businessman [[Efraim Ilin]].<ref>[http://www.jta.org/1950/03/08/archive/kaiser-frazer-company-announces-establishment-of-automobile-assembly-plant-in-haifa Kaiser-frazer Company Announces Establishment of Automobile-assembly Plant in Haifa], March 8, 1950</ref> Initially as a factory for assembling [[Kaiser-Frazer]] cars and [[Mack Trucks]] under license; Kaiser-Ilin had two production sites, one in Haifa (which opened in 1951) where the vehicle assembly line was based and one in [[Ashkelon]] (which was opened in 1960), for manufacturing spare parts for automotive equipment, gears and metal-working machinery.<ref>[http://www.jta.org/1958/09/26/archive/american-kaiser-company-plans-three-new-factories-in-israel American Kaiser Company Plans Three New Factories in Israel], September 26, 1958</ref>
+Ashot Ashkelon was founded in 1951 as [[Kaiser-Frazer#Kaiser in Israel|Kaiser-Ilin Industries]] by businessman [[Efraim Ilin]].<ref>[http://www.jta.org/1950/03/08/archive/kaiser-frazer-company-announces-establishment-of-automobile-assembly-plant-in-haifa Kaiser-frazer Company Announces Establishment of Automobile-assembly Plant in Haifa], March 8, 1950</ref> Initially as a factory for assembling [[Kaiser-Frazer]] cars and [[Mack Trucks]] under license; Kaiser-Ilin had two production sites, one in Haifa (which opened in 1951) where the vehicle assembly line was based and one in [[Ashkelon]] (which was opened in 1960), for manufacturing spare parts for automotive equipment, gears and metal-working machinery.<ref>[http://www.jta.org/1958/09/26/archive/american-kaiser-company-plans-three-new-factories-in-israel American Kaiser Company Plans Three New Factories in Israel], September 26, 1958</ref>
-During the 1960 the company got into financial difficulties and the vehicle assembly line was closed; the Ashkelon plant continue to operate at a lost. In 1967, it was acquired by [[Israel Military Industries]] and its name changed to Ashot Ashkelon Industries.
+During the 1960 the company got into financial difficulties and the vehicle assembly line was closed; the Ashkelon plant continue to operate at a loss. In 1967, it was acquired by [[Israel Military Industries]] and its name changed to Ashot Ashkelon Industries.
-In 1990, Ashot signed a long term supply contract with [[Boeing]] to manufacture transmission systems used in the rudder mechanisms of [[Boeing 747]] and [[Boeing 757]] aircraft.<ref>[https://www.highbeam.com/doc/1G1-12409471.html Ashot gets $48 M Boeing orders], Israel Business Today, May 29 1992</ref>
+In 1990, Ashot signed a long term supply contract with [[Boeing]] to manufacture transmission systems used in the rudder mechanisms of [[Boeing 747]] and [[Boeing 757]] aircraft.<ref>[https://web.archive.org/web/20160910062012/https://www.highbeam.com/doc/1G1-12409471.html Ashot gets $48 M Boeing orders], Israel Business Today, May 29, 1992</ref>
-In 1992, the company had an [[initial public offering]] on the [[Tel Aviv Stock Exchange]]. The same year, the company signed a 20 years frame agreement with the [[Allison Engine Company]], at the time  a division of [[General Motors]], to manufacture parts for 20 different engine types. The agreement was estimated to represent a total potential income of $100-140 million.<ref>[https://www.highbeam.com/doc/1G1-12536024.html Ashot frames GM. (Ashot Ashkelon Industries' aircraft engine contract with General Motors Corp. Allison Transmission Div.)] Israel Business Today, 14 August1992</ref>
+In 1992, the company had an [[initial public offering]] on the [[Tel Aviv Stock Exchange]]. The same year, the company signed a 20 years frame agreement with the [[Allison Engine Company]], at the time  a division of [[General Motors]], to manufacture parts for 20 different engine types. The agreement was estimated to represent a total potential income of $100–140 million.<ref>[https://web.archive.org/web/20160910062149/https://www.highbeam.com/doc/1G1-12536024.html Ashot frames GM. (Ashot Ashkelon Industries' aircraft engine contract with General Motors Corp. Allison Transmission Div.)] Israel Business Today, 14 August 1992</ref>
+In 2007, Ashot won a tender to manufacture the [[Drivetrain]] and hydro-mechanical suspension enabling cross-country mobility, for both the [[Merkava Mk. 4]]<ref>[https://defense-update.com/newscast/0610/eurosatory_2010_13062010_merkava.html#more International debut for Israel's Newest Merkava Mk4], Defense Update, Oct 2010</ref> tank and the [[Namer]] [[Armoured personnel carrier]].<ref>[https://defense-update.com/features/2010/june/namer_merkava_update_09062010.html Enter the Namer - An update on the Merkava based Infantry Fighting Vehicle], Defense Update, Oct 2010</ref>
-In 2011, Ashot acquired [[Illinois]] based Reliance Gear Corporation, a manufacturer of custom and precision gearing that was founded 1965, which today operates as a fully-owned subsidiary of Ashot<ref>[http://www.globes.co.il/en/article-1000833018  Ashot Ashkelon: Defense industry success story  The defense contractor's revenue has risen from NIS 17 million to NIS 230 million within seven years], Yuval Azulai, Globes 28/03/2013</ref>.
+In 2011, Ashot acquired [[Illinois]] based Reliance Gear Corporation, a manufacturer of custom and precision gearing that was founded 1965, which today operates as a fully owned subsidiary of Ashot.<ref>[http://www.globes.co.il/en/article-1000833018  Ashot Ashkelon: Defense industry success story  The defense contractor's revenue has risen from NIS 17 million to NIS 230 million within seven years] {{webarchive |url=https://web.archive.org/web/20160603125043/http://www.globes.co.il/en/article-1000833018 |date=June 3, 2016 }}, Yuval Azulai, Globes 28/03/2013</ref>
-In 2014, two Dutch pension funds, [[Aegon N.V.|Aegon]]<ref>[http://www.aegon.nl/multimedia/overaegon/uitsluitingenlijst "Uitsluitingenlijst Aegon Nederland"], Aegon.nl, 01 January 2014, retrieved 20 August 2014</ref> and [[Stichting Pensioenfonds ABP|ABP]].<ref>[http://www.ynetnews.com/articles/0,7340,L-4537945,00.html "EU nations, firms warn against West Bank investments"], Ynetnews, 04 July 2014, retrieved 20 August 2014</ref>
-, put the company on an exclusion list for investment, due to its alleged role in the production of [[cluster munition]]
 ==Products==
-{{Multicol}}
+{{Col-begin}}
+{{Col-break}}
 ===Aerospace===
 * [[High-lift device|High Lift Systems]]
@@ Line 76: / Line 73: @@
 * [[Jet engine|Jet Engine Shafts]]
 * [[Tungsten|Tungsten Weights]]
-{{Multicol-break}}
+{{Col-break}}
 ===Defense===
 * Transmissions and Gears
@@ Line 82: / Line 80: @@
 * Penetrators and Fragmentation Parts
 * Suspensions
-{{Multicol-break}}
+{{Col-break}}
 ===Automotive===
 * [[Power take-off|Power take off units]]
@@ Line 91: / Line 90: @@
 * Drive axles
 * Oil pumps
-{{Multicol-end}}
+{{col-end}}
 ==See also==
+{{Portal|Companies}}
 *[[Israel Military Industries]]
@@ Line 101: / Line 102: @@
 ==External links==
 * [http://www.ashot.co.il/ Official website]
+{{Automotive industry in Israel}}
 [[Category:Manufacturing companies of Israel]]
 [[Category:Defense companies of Israel]]
-[[Category:Companies established in 1951]]
+[[Category:Manufacturing companies established in 1951]]
+[[Category:1951 establishments in Israel]]
+[[Category:Companies listed on the Tel Aviv Stock Exchange]]
+[[Category:2022 mergers and acquisitions]]