February 16, 2012 / 3:35 PM / 6 years ago

UPDATE 1-Israel to buy Italian combat training jets in $1 bln deal

(Changes sourcing, adds details)

LONDON, Feb 16 (Reuters) - Israel has chosen Finmeccanica’s Alenia Aermacchi unit to supply 30 M-346 Master training jets for $1 billion, the Israeli defence ministry said on Thursday.

Israel selected Finmeccanica over Korean Aerospace Industries, Major General Udi Shani, director general of the Israeli Defence Ministry, said in a statement.

Finmeccanica shares were up 1.1 percent at 1515 GMT, outperforming Italy’s benchmark index, which was down 1.3 percent.

As part of the agreement the Italian government will make $1 billion worth of “offset” purchases from Israel’s defence industries, Shani said.

A spokesman for the Italian defence ministry was not immediately available to comment. (Reporting By Paolo Biondi; Writing by Steve Scherer; Editing by Greg Mahlich)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below