4 companies have expressed interest in the purchase of the BTL factory Blade Technology, still without an offer on the table
| Maya Ronen, Devar News
Four companies have already expressed interest in purchasing the Lahavim Technology BTL plant and continuing to operate it as a going concern, after in recent weeks 900 of the plant’s employees are under threat of layoffs in the next two years, as announced by the American company Pratt & Whitney – a subsidiary of Raytheon Technologies (NYSE:) – who bought it.
The entities that have expressed interest are large entities with experience in owning enterprises of this type. , whose board chairman Amir Peretz directed his team to check the feasibility and viability of the purchase; Fimi Fund, Israel’s largest private investment fund headed by Yishai Davidi; Fortismo Capital Fund, which previously purchased a number of factories in Israel, including Phenicia, Sodastream and more, led by Yuval Cohen; as well as a group of investors from China who are interested in the continued operation of the plant in Israel.
The BTL factory that produces blades for jet engines employs about a thousand workers. In recent weeks, the management of the factory announced that within two years 900 of the workers would be laid off, the factory in Nahariya would be closed and only one department would continue to work.
Pratt & Whitney, which owns the factory, has not yet announced whether it intends to put it up for sale. In the discussion held in the finance committee this week, the claim was made that the company is not interested in selling the factory, and this is to minimize competition in the blade market and thus ensure the success of the American factory it owns.
If Pratt & Whitney decides to sell the plant and not close it, this will ensure the continued employment of most of the plant’s employees. The company will also be guaranteed continued activity with the Ministry of Defense, to which it provides products and services to the extent of 800 million dollars.
Read the full article on the Devar news site