INKAS® Signs a Multi-Million Dollar Agreement to Build Armored Vehicles
INKAS® Group of Companies, a world-leading security solutions provider, has signed a multi-million agreement with ISP, LLC for research and development (R&D) and production of special purpose vehicles, safes and other integrated security products, systems and solutions. The project will be jointly executed by Mayotex-Philcar, which has been recently acquired by INKAS®, and INKAS® Armored Vehicle Manufacturing, a leading division of the Group in Canada.
The agreement has been signed as a part of the Ontario Business Mission to Israel led by Kathleen Wynne, the Premier of Ontario. The mission’s goal was to further establish Ontario as a top innovation and knowledge economy partner and develop the strong economic and cultural ties between Ontario and Israel by creating new commercial partnerships leading to economic growth and job creation.
Israel is a priority market for Ontario for trade and research. Ontario and Israel have had a Memorandum of Understanding (MOU) in place for over a decade to promote industrial research and development collaborations. The agreements signed during the mission are expected to create about 200 jobs within Ontario.
“Ontario and Israel have a long history of working together on research and development initiatives,” said Premier Wynne. “This mission has created opportunities for us to strengthen these partnerships and create new ones. The agreement signed between INKAS® and ISP will strengthen Ontario’s reputation as a world leader in the security field and create jobs in both Ontario and Israel.”
“We are delighted to execute this large scale project for R&D and production of security solutions in partnership with ISP, LLC and benefit both Canadian and Israeli economies,” said David Khazanski, INKAS® Group of Companies President and CEO. “Our advanced technological security solutions, production capacities and international presence provide us with clear competitive advantages to fulfil the needs of our global clientele.”