The Ticker: After Losing Spacecom Contract, Israel Aerospace Wants Its Own Satellite – Haaretz

After losing Spacecom contract, Israel Aerospace wants to operate its own satellite 

After losing a contract to build a communications satellite for Spacecom, Israel Aerospace Industries has declared war. State-owned IAI said on Monday it was weighing building and operating its own satellite designed for the Israeli government and commercial customers, and plans to apply to Israel’s Communications Ministry for an operating license. The announcement comes two weeks after Spacecom chose U.S.-based Space Systems/Loral, a unit of Maxar Technologies, over IAI to build its Amos 8 satellite slated to be launched by Elon Musk’s SpaceX in the second half of 2020. IAI has built nearly all of the previous Amos satellites but has never been in the business of operating satellites. IAI officials said they doubted the low $112 million price Loran has agreed to with Spacecom will result in a satellite that can meet the needs of the Israeli government, which is Spacecom’s main customer. Spacecom shares ended up 0.4% at 16.08 shekels ($4.57).  (Guy Erez)

Teva to close Ashdod plant after failing to find a buyer

Teva Pharmaceuticals said on Monday it plans to shutter one of two plants it operates in the Israeli port city of Ashdod within the year after the financially troubled drug maker failed to find a buyer for it. “This decision is painful and regrettable, but also unavoidable because much of the plant’s operations are not part of Teva’s core business, and because the manufacturing intravenous bags there, which accounts for about half of its operations, is not profitable,” Teva said. In addition to the IV bags, the plant makes liquid pharmaceuticals such as the children’s pain reliever Acamoli and disinfectant products for hospitals. The drug maker said it would begin talks soon with the Histadrut labor federation on severance terms, with the aim of

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