Code of Ethics

עקרונות קוד התנהגות עסקית

1. Importance of ethics

At Ashot, we believe that managing the Company’s activity based on values of fairness, transparency, mutual respect and good faith, will lead the Company to achieve its business objectives and meet its goals, enhance its reputation, and uphold the Company’s good name.
The Board of Directors, Company management, workers’ committee, and every employee will collectively uphold this Code of Business Conduct, recognizing that adherence to the required standards will contribute to a positive and effective work environment and ensure business success.

2. Code of Business Conduct as a framework for Rules of Business Conduct

This Code constitutes a framework for the Company’s policy regarding conduct as also expressed in the collective agreements applicable at Ashot, the disciplinary regulations, the Company’s procedures and human resources provisions, which are updated from time to time. This Code of Business Conduct comes in addition to and complements the Company’s procedures and the social and business norms of conduct required by law. In any case of contradiction, the provisions of the law shall prevail.

3. Applicability

This Code of Conduct applies to all Company Managers, Employees and Consultants, including Managers of Employees and Consultants of its subsidiary, Reliance Gear. We expect everyone acting on behalf of Ashot to act ethically and fairly in accordance with this Code and the Company’s procedures.

4. Mutual respect

At Ashot and beyond, we aim to treat others with respect, fairness, and courtesy, while honoring the differences and diversity among people. We refrain from any act or omission that may harm or harass another or any discrimination based on religion, race, gender, sexual orientation, disability or any other background that expresses differences between people. We treat customers, suppliers, contractors and other foreign entities with respect, including their employees.

5. Collaboration with the Workers’ Committee

At Ashot, we maintain a collaborative relationship with the Ashot Workers’ Committee, grounded in our belief in mutual cooperation and ongoing, open dialogue with employee representatives about the work relations system and employment conditions at Ashot.

6. Work etiquette

Ashot employees and managers are obligated to act in accordance with the rules of conduct at work and employee obligations, as detailed in Chapter 1 of the disciplinary regulations applicable at Ashot by virtue of the employment agreements applicable to the Company, and the Company’s procedures.

7. Privacy protection

At Ashot we believe in the human right to privacy and we will respect the privacy of each employee, manager, consultant, supplier and each person’s personal data, salary, personal condition, health and any information found in Ashot’s information systems. We will secure the information and guide those responsible for managing it, to maintain privacy. We will act in accordance with the Privacy Protection Law and use the databases according to the provisions of the Company’s procedures.

8. Conflict of interest

We will act in accordance with Ashot’s interests and avoid any situation of conflict of interest and the placing of our personal interests before those of Ashot. In any case of concern regarding a conflict of interest, the responsible entity at the Company and/or the Company’s legal advisor must be informed.

9. Protecting the Company’s assets and reputation

We must remember that each of us represents the Company and we shall do our utmost to uphold the Company’s good name and reputation.
We will safeguard and protect the Company’s assets, physical and intellectual property assets including trade secrets, patents, trade names, copyrights, business information, knowledge and its documentation. This commitment shall be valid both during our work at the Company, and will remain valid even after the termination of our work therein, unless otherwise agreed with the Company’s management explicitly.
We will use said assets for work purposes and not for personal use.

10. Prohibition of political activity

The Company believes in each individual’s freedom of opinion. Ashot opposes political activity during work hours at the Company. During work, we will maintain a clear separation between our professional responsibilities and our political views and affiliations.

11. Compliance with the provisions of the law

Ashot is a public company whose shares are traded on the Tel Aviv Stock Exchange, which operates under the laws of the State of Israel. We are required to comply with legal requirements, regulations, decisions, guidelines and approvals of the Israeli Government, its ministries and related bodies. In order to meet legal standards, any question or doubt, should be referred to the Company’s legal counsel.

12. Business behavior and fair treatment of customers and suppliers

Ashot maintains close relationships with customers and suppliers based on mutual respect. We treat suppliers, customers, competitors and anyone with whom the Company conducts business honestly and fairly.

The Code of Business Conduct applies to all the Company’s managers and employees and they are committed to act fairly and ethically when conducting actions and negotiations on behalf of the Company, while complying with legal and contractual obligations. The Company’s undertakings shall be in accordance with signing authority procedure as approved by the Company’s Board of Directors from time to time.

Ashot is committed to fair competition, inter alia, by preventing unreasonable restrictions on freedom of trade and respecting the laws of the countries it engages with, including the norms applicable to international trade with regard to imports and exports, especially the regulations governing the supervision of controlled products.

Ashot will ensure that its financial statements reflect its operations and business activities in a timely manner, fully, clearly, accurately and in accordance with generally accepted accounting principles and the provisions of the law. The Company will provide all reports required of it in accordance with its obligations under the law, its contractual obligations and in accordance with the business standards to which it is committed.

13. Avoiding corruption and fraud

Ashot and its employees will refrain from any acts of corruption, bribery, fraud and other prohibited business activities and will act in accordance with the provisions of applicable law regarding such acts, in Israel and worldwide.

14. Safety and the environment

We will maintain Health and Safety rules at work, while strictly complying with all the laws and regulations of the State of Israel and the environment in which it operates, in order for the work environment to be as safe and secure, as much possible and free of danger. To this end, the Company operates a professional and skilled system for managing safety, occupational health, and environmental quality. The Company is committed to preventing environmental pollution and ensuring continuous improvement in environmental standards at the plant. We must report any accident, malfunction, injury, facility or equipment that is unsafe and any incident or threat and intimidation to the supervisor or to the person dealing with the issue, as soon as possible.

15. Quality Assurance

We will maintain a trusting relationship with customers and suppliers and will act to fulfill obligations by disclosure and in good faith and maintain Ashot’s good name and professional prestige. The Company’s products have a reputation due to their high quality, and we aim to maintain this reputation. Each employee will observe quality and control processes and report any defects regarding the Company’s products.

16. Security and business and information security

Use of the Company’s information will be for business purposes only, as authorized. As an industry producing military-related products, information use and distribution must adhere to the security classification of the information and comply with security protocols.
The transfer of security information may cause great damage to Israel’s security and the Company’s activity, and the same goes for the transfer of confidential business information in areas of civil activity. Therefore, in the course of our work at Ashot and even following termination of our work, we are committed to safeguarding the information and protecting confidential information that may have come to our attention during our work from our security and civilian customers, in accordance with any law and the Company‘s procedures.

17. Address for receipt of inquiries

The Code of Business Conduct will be published and distributed to the Company’s employees and customers, both on the Company’s website and on its internal computer network.
Compliance with standards according to the Code of Ethics also requires reporting in any case of a concern regarding conduct which may be contrary to the Code of Ethics and the Company’s procedures. In case of any doubt, question or complaint regarding ethical conduct or concern of its violation by any of the Company’s employees or managers, please contact the Company’s Complaints and Inquiries Officer – Ms. Shoshi Weinstein at:
Phone: 08-6721504

18. Handling enquiries

The Complaints and Inquiries Officer will examine the complaints, review them, summarize its findings and forward its recommendations to the Company’s CEO for treatment.

19. Protection of a complainant and confidentiality

Any question, concern or complaint, received by a Complaints and Inquiries Officer or with regards to ethics will be treated confidentially ensuring the complainant’s identity remains protected. The Company will defend any complainant who filed a complaint in good faith regardless of whether the complaint is ultimately found to be incorrect.

Eli Damari


For a Hebrew version of Ashot Ashkelon’s code of ethics, click here

לקבלת הקוד האתי של עשות אשקלון תעשיות בע”מ בעברית, אנא לחץ כאן.

Ron Pirostela

Mr. Ron Pirostela serves as VP of Strategic Planning. Ron joined Ashot Ashkelon in 2008 and held the Head of Aviation Project Management position until 2018; then, he was appointed VP of Marketing and Business Development and the Head of the Aviation Division. Ron, a former officer in Israel Air Force's Technical Branch, has held a wide range of positions as a commander of technical units at Air Force bases, military staff positions, commander of a techno-logistics unit, and more. Ron completed his 26-year service at IAF with the rank of Lieutenant Colonel. Ron holds a BA in Logistics from the Open University and an MA in Public Administration from Bar Ilan University.

VP Strategic Planning

Izick Azulay

Head of Quality Assurance

Mr. Izick Azulay was appointed as head of quality assurance at Ashot Ashkelon Industries Ltd. In 2022.
Izick joined Ashot Ashkelon in 1988 as a CNC operator. From there, he has developed to several managerial levels positions on the production floor, where he gained extensive experience with Ashot's comprehensive technological capabilities. Prior to his current role, Izick served as head of the final inspection department.
Izick brings broad technical experience to his role, focusing on quality assurance management systems.

Eliyahu Damari

Company CEO

Mr. Eliyahu (Eli) Damari has been the CEO of Ashot Ashkelon and Chairman of the Board of Directors of the American subsidiary, Reliance Gear, since 2019.
Eli began his career as an engineer, progressing through many and varied positions in the company, reaching the position of VP of Operations in 2002 until 2016. In the years 2016 - 2019 Eli served as CEO of the Olympia Advanced Metal Industries Group. Eli has extensive technological and managerial experience, and over the years has led complex company projects at the operational and engineering level, including the implementation of advanced logistics and engineering management systems in the Company.
Eli holds a BSc degree in Mechanical Engineering from Ben-Gurion University and an MBA degree from Ben-Gurion University.

Yehuda Hadrian

Director of Engineering

Mr. Yehuda Hadrian has been the Director of Engineering at Ashot Ashkelon Industries since 2017.
Yehuda joined Ashot Ashkelon in 1978, and since then has served in key positions in the field of production and engineering, including Manager of Procurement, of the Operations Division and of the Technologies Division in the Company. Yehuda leads all of the Company's engineering and technological activities and has extensive experience in starting new projects from the point of view of engineering, problem solving and providing engineering solutions to the Company's customers.
Yehuda holds a BSc degree in Mechanical Engineering from the Technion in Haifa.

Shai Avrahami

Manager of the Military Business Unit

Mr. Shai Avrahami was appointed Manager of the Military Business Unit at Ashot Ashkelon Industries Ltd. in 2021.
Shai joined Ashot Ashkelon in 2008, at the beginning of his career he served as Manager of the Assembly Department and later on as Manager of the Continuous Tracks projects.
Before joining Ashot, Shai held a variety of officer positions in the Technology and Maintenance Corps’ Land Force, including Engines Commander, Paratroopers Brigade’s Technology and Maintenance Corps officer, Workshop Commander, and more.
Shai holds a BA degree in Logistics from Sapir College and an MBA degree from Peres Academic Center.

Yair Kaufman

VP Finance and Control

Mr. Yair Kaufman serves as VP of Finance and Control at Ashot Ashkelon Industries Ltd. and as a Director of the American subsidiary, Reliance Gear.
Yair joined Ashot Ashkelon in 2019, bringing nearly 20 years of experience in financial management, control, contracts and sales, including management of Foreign Military Financing (FMF) at a number of companies in Israel and in the US for the Elbit Systems Group.
Yair is a Certified Public Accountant. He holds a BA degree in Economics and Accounting from the University of Haifa and an MBA degree with a specialization in Financial Management and Financing from Tel Aviv University.

Amit Moshe

VP Operations

Mr. Amit Moshe serves as the VP of Operations at Ashot Ashkelon Industries Ltd. Amit joined Ashot Ashkelon in 2009 and has since served in a number of key positions such as Deputy Manager of Internal Procurement and Subcontracting, and Production Manager until his appointment to his current position in 2020. Amit holds a BSc degree in Mechanical Engineering from Ben Gurion University and an Executive MBA degree from Bar Ilan University

Nathalie Eliyahu

VP Human Resources and Administration

Ms. Nathalie Eliyahu serves as VP of Human Resources and Administration at Ashot Ashkelon Industries Ltd.
Natalie joined Ashot Ashkelon in 2018, bringing with her rich and significant experience in human resource management and organizational development. In her most recent position, she served as Human Resources Manager at the Central Sales and Distribution Company of the CBC Group.
Nathalie holds an MA in Organizational Consulting and Development from the College of Management Academic Studies, and a BA in Business Administration from the Ruppin Academic Center.

Adv. Arik Safran

Legal Counsel

Adv. Arik Safran serves as the General Counsel of Ashot Ashkelon Industries Ltd., and of the American subsidiary, Reliance Gear.
Arik joined Ashot Ashkelon in 2020. Arik brings with him extensive managerial and legal experience, both as Assistant to the CEO and General Counsel in the civil market as well as Assistant to the CEO and, later, Professional Advisor to the Minister at the Ministry of Science and Technology and at the Ministry of Labor, Welfare and Social Services. Prior to that, Arik worked as an attorney in leading law firms.
Arik holds a BA in Law and Psychology from the University of Haifa and an MBA with a specialization in Strategy, Marketing and Entrepreneurship from Tel Aviv University. Arik has been licensed to practice law by the Israel Bar Association since 2010.

Yariv Bar Yam

EVP Business Development and Marketing

Mr. Yariv Bar Yam serves as EVP OF Business Development and Marketing at Ashot Ashkelon Industries Ltd. Yariv joined Ashot Ashkelon in 2024, bringing 30 years of experience in global business development and management. Prior to Ashot, Yariv managed Business Development, Sales, and Marketing at global high-tech conglomerates such as Applied Materials, ECI Telecom and Israel Aerospace Industries and has led various high-tech startups to business success. Yariv holds a BSc. in Industrial Engineering from the University of Tel-Aviv (Magna cum laude) and an MBA from INSEAD, France.