Silver Shadow Advance Security System CEO Amos Golan (left) and RIC Pres. Augusto Camacho sign a Letter of Intent with Department of Trade and Industry Secretary Ramon Lopez (center) as witness.
A leading arms manufacturer in Israel is set to put up a plant in the Philippines.
Rayo Illuminar Corp., (RIC) Chairman Salvador Zamora, in an interview Wednesday, said he expects Amos Golan of Israel’s Silver Shadow Advance Security Systems Ltd., (SSASS) to be in the Philippines this month to finalize their partnership with the end in view of starting the installations of vital apparatus of the manufacturing and assembly plant that will be operational by 2019.
SSASS and RIC had a series of exploratory meetings prior to President Rodrigo Duterte’s recent state visit, and are eyeing Limay, Bataan as among the identified prospective areas for the manufacturing plant.
The two companies entered into a Memorandum of Undertaking wherein the Israeli company committed to infuse an initial investment of USD50-million. SSASS and RIC will initially manufacture and assemble firearms and ammunitions with SSASS also committing to train and then employ at least 160 personnel.
During the President Duterte’s Israel visit, a ceremonial signing of Letter of Intent by SSASS and its ranking officials with Department of Trade and Industry (DTI) Secretary Ramon Lopez were among the significant events held.
A demonstration of the firefight capability of varied types of firearms under the brand name Gilboa followed that was witnessed by Defense Secretary Delfin Lorenzana.
http://www.pna.gov.ph/articles/1047789
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.