Singapore, Israeli firms team to develop new ship-killing missile

MELBOURNE, Australia — Singapore’s ST Engineering believes that a new joint venture with Israel Aerospace Industries, to market and sell advanced naval missile systems, will leverage both companies’ strengths and track records to address a growing demand for guided munitions. The joint venture, announced in mid-July, is called Proteus Advanced Systems, with ST Engineering’s land systems arm and IAI each having a 50 percent share. According to the news release announcing the joint venture, the new entity will “market and sell advanced nava…