Israel is selling state-owned IMI Systems, maker of the Uzi submachine gun, to Elbit Systems for more than half a billion dollars, the finance ministry said on 11 March. IMI Systems is known in Turkey with the modernization of M-60 tanks.
Elbit will buy IMI for $522 million and relocate the IMI facilities from central Israel to the southern Negev area. The ministry did not give a timeline for the finalization of the deal.
