Israel Contracts Imco Industries to Modernise Armored Vehicles Including Merkava Tank
Imco Industries announced on May 6, 2024, a contract worth 377 million NIS with the Israeli Ministry of Defense. The multi-year contract entrusts Imco with the task of developing and providing electrical systems and subsystems for the armored vehicles of the Israel Defense Forces (IDF), including the Merkava tank and the Namer and Eitan armored personnel carriers.
The items to be provided under this contract include advanced video management and voltage systems as well as harnesses, with delivery scheduled between 2024 and 2030.
This new contract substantially increases Imco’s order book, elevating it from 350 million NIS to 725 million NIS, more than doubling the previous figure. The announcement had a positive impact on Imco’s stock performance, with a 19% increase in its share price today, adding to a 200% rise over the past year.
The Merkava tanks as well as the Namer and Eitan armored vehicles are essential to the IDF’s ground maneuver capabilities. Under this contract, Imco will equip these vehicles with combat-proven advanced systems. This contract updates and replaces a previous agreement from 2020 involving the production and supply of similar electrical and control assemblies for these vehicles. For 2024 and 2025, Imco is poised to finalize production and supply under the existing contract and initiate deliveries for the new contract.
The Merkava tank, developed and produced by Israel Military Industries, is a series of main battle tanks that have been in service since 1979. The most recent version, the Merkava Mark 4 Barak, features advanced technologies including artificial intelligence, upgraded sensors, and virtual reality capabilities. Designed for maximum crew protection, the tank has its engine located at the front to absorb impacts and provide additional survival space for the crew. It also features a sophisticated fire control system capable of engaging moving targets, even under challenging conditions.
The Eitan is a wheeled armored personnel carrier developed by the Israeli Defense Ministry’s Development Program. The Eitan is designed to provide enhanced protection against various threats while ensuring the rapid deployment of troops. It is equipped with an advanced active protection system and a remotely operated weapon station, ensuring it can fulfill various roles on the modern battlefield.
The Namer, a heavy armored personnel carrier, has been in service since 2008 and is utilized by the Israel Defense Forces. The Israeli APC is designed for maximum protection with a classified composite armor made from a ceramic-steel-nickel alloy and additional reactive armor. It accommodates a crew of three and can carry up to nine troops. Its main armament includes a Samson Remote Controlled Weapon Station equipped with a choice between a 12.7 mm M2 machine gun or a Mk 19 grenade launcher. Secondary armaments consist of a 7.62 mm machine gun and an external 60 mm mortar. The vehicle is powered by a 1200 hp turbocharged diesel engine, offering a significant power-to-weight ratio and a top speed of 85.2 km/h, making it both robust and rapid on the battlefield.
Founded in 1974, Imco Industries operates in Israel and the United States. The company, along with its subsidiaries such as Imco Projects, Nir Or, ADT (United States), Etna, and EMT, specializes in the design, development, manufacturing, and marketing of a wide range of electrical, electromechanical, and mechanical products. These products serve various platforms in air, land, and naval forces as well as industrial applications.