Electric Fuel Completes MDT Majority Acquisition

August 18, 2002 by Jeff Shepard

Electric Fuel Corp. (New York) announced that it has completed its acquisition of a majority interest in MDT Protective Ind. Ltd. (Israel), which specializes in using lightweight materials and advanced engineering processes to armor vehicles. According to Electric Fuel, the company fulfilled a major step in its strategic plan of expanding into the defense and security business.