Ashot Ashkelon
Native name | עשות אשקלון תעשיות |
|---|---|
| Company type | Public company |
| TASE: ASHO | |
| Industry | Defence, Automotive |
| Founded | 1951 |
| Founder | Efraim Ilin |
| Headquarters | , |
| Revenue |  ₪ 340.93 million (2015) |
| ₪ 17.24 million (2015) | |
| Total equity | ₪ 224.25 million (2015) |
| Owner | Israel Military Industries 85% |
Number of employees | 560 (2015) |
| Subsidiaries | Reliance Gear Corporation |
| Website | www |
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. Ashot is a subsidiary of the Israel Military Industries Ltd. (IMI)[2] and publicly traded on the Tel Aviv Stock Exchange. The company has 560 employees.[3]
History
Ashot Ashkelon was founded in 1951 as Kaiser-Ilin Industries by businessman Efraim Ilin.[4] 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.[5]
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.
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.[6]
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.[7]
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[8].
In 2014, two Dutch pension funds, Aegon[9] and ABP.[10] , put the company on an exclusion list for investment, due to its alleged role in the production of cluster munition
Products
Aerospace
- High Lift Systems
- Landing Gear parts
- Transmissions & Gears
- Universal Joints
- Jet Engine Shafts
- Tungsten Weights
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
See also
References
- ^ Hybrid-Electric Propulsion For Rotax Archive
- ^ Israel Defense (13 August 2012). "Another deal for Ashot Ashkelon". Israel Military Industries. Retrieved 17 April 2013.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ http://www.ashot.co.il/About.html Official About Page
- ^ 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 August1992
- ^ 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
- ^ "Uitsluitingenlijst Aegon Nederland", Aegon.nl, 01 January 2014, retrieved 20 August 2014
- ^ "EU nations, firms warn against West Bank investments", Ynetnews, 04 July 2014, retrieved 20 August 2014