Israel's Tomer Company Seeks $160 Million for Rocket and Space Engine Expansion
Translated & summarized from Maariv by baba
Israeli company Tomer is raising 600 million shekels through bond issuance to expand its production of rocket and missile engines. The expansion is driven by a global increase in demand for such systems. Tomer's order backlog stands at 3.5 billion shekels, and the company supplies engines for key Israeli defense projects and space programs.
The story in 5 lines · by baba
- Tomer is raising 600 million shekels to expand rocket and missile engine production.
- Global demand for missiles and rockets has significantly increased.
- The company has an order backlog of 3.5 billion shekels.
- Tomer develops engines for the Arrow missile system and Ofeq satellites.
- The expansion aims to meet the needs of the Israeli defense establishment.
Amid a global surge in demand for missiles and rockets, Israeli company Tomer is preparing to raise 600 million shekels (approximately $160 million) to expand its production lines. The company, which develops engines for the Arrow missile system and Ofeq satellites, currently holds an order backlog valued at 3.5 billion shekels and boasts an AA+ credit rating.
Tomer plans to issue bonds worth 600 million shekels to immediately establish new production facilities, responding to the needs of the defense establishment. The company manufactures engines for missiles produced by major Israeli defense contractors, including Israel Aerospace Industries, Rafael, and Elbit.
In recent years, Tomer has transitioned from developing and producing discrete defense products for Israel to the serial production of rocket engines for various ranges, intended for operational use in air, sea, land, and space applications. The company highlighted its human capital, comprising scientists, engineers, physicists, practical engineers, and technicians with decades of proven experience, enabling it to meet current and future national security challenges.
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