Shladot Metal Works, Ltd. (TASE:SLAD-M) signed a letter of intent to acquire MDT Armor Corporation And M.D.T. Protective Industries Ltd. from Arotech Corp. (NasdaqGM:ARTX) for $0.7 million on March 7, 2012. The transaction is subject to regulatory approvals, third party consents, execution of employment agreement, consummation of legal, business and financial due diligence, approval of United States Directorate of Defense Trade Controls, financial audit of MDT Armor Corporation And M.D.T. Protective Industries Ltd, approval of Board of Directors and shareholders of Shladot and Arotech Corp. Ari Fried of Gornitzky & Co. acted as legal advisor for Shladot. Shladot Metal Works, Ltd. (TASE:SLAD-M) completed the acquisition of MDT Armor Corporation And M.D.T. Protective Industries Ltd. from Arotech Corp. (NasdaqGM:ARTX) for $0.05 million in cash on June 20, 2012. Shladot Metal Works will pay $0.02 million for the Israel assets and $0.03 million for the USA assets of Arotech.