(Bloomberg) Tony Capaccio - The Israeli government has agreed to spend more than half the funds the Pentagon provides for its Iron Dome missile-defense system in the U.S. Funds going to U.S. contractors for components of the Israeli-built, Pentagon-funded system will jump to 30% this year and 55% next year, according to a U.S. Missile Defense Agency report to Congress, bolstering the political appeal of the project in America. The agreement includes a provision allowing production of any part to revert to Iron Dome's Israeli maker, Rafael Advanced Defense Systems Ltd., if its U.S. price exceeds what it would cost to make in Israel by 5% or more.
2014-05-28 00:00:00Full ArticleBACK Visit the Daily Alert Archive