Israeli defense contractor Rafael Advanced Defense Systems and Romanian counterpart Romaero announced Wednesday that they have signed a cooperation agreement for the production of domestic air and ground defense systems they hope to offer to the Romanian armed forces.
A statement by Rafael said that as part of the deal, signed in Bucharest, Romaero will acquire the technical knowledge and license for the development of the sea-borne version of Israel's celebrated Iron Dome short-range missile defense system, as well as Samson remote control weapons systems and Spike tactical missiles.
Rafael did not release the monetary specifics of the deal, saying only that it is worth hundreds of millions of dollars.
Rafael CEO Yoav Har-Even inked the agreement with Romaero chief Remus Vulpescu at the Black Sea Defense & Aerospace 2018 exhibition in Bucharest, Wednesday.
"The new cooperation will provide a solution to the operational needs of the Romanian army in upcoming procurement plans that were already approved by the Romanian government," the company said in a statement.
Over the past 15 years, Rafael has signed similar cooperation deals with some 50 companies worldwide, including in the U.S., Canada, Italy, India, Germany and Poland. This is the first local manufacturing deal for Rafael in Romania.
Romania has increased its military spending by 50% between 2016 and 2017, representing the sharpest increase rate in the world.
