At noon, the cement cement importer, from the Israel Shipyards Group, completed the acquisition of Keshet Prima, one of the largest private manufacturers in Israel of finishing materials, adhesives and powders in the field of construction. According to the report to the stock exchange issued by Israel Shipyards, for the purchase, Cement paid NIS 61.5 million plus VAT and will later complete another NIS 30 million, in accordance with the company’s performance. The transaction was financed from Cement’s equity and bank financing. Cement says today that the acquisition is part of the company’s strategic move to expand its product portfolio and enter other areas in the field of construction products.
Keshet Prima was established about 35 years ago and is still owned by the Geshuri family, the founding family. The company is considered one of the leading manufacturers in Israel in the field of manufacturing adhesive mixtures intended for the construction industry, including adhesives for ceramics, plaster and more, an area estimated at NIS 800-900 million per year. The company’s products are considered to be of exceptional quality and meet the highest standards required in the field of chemicals. Keshet Prima operates from the Nitzanei Shalom industrial zone and employs about 200 workers. The company’s turnover is approximately NIS 200 million per year and the profit is approximately NIS 25 million.
Cement, established in 2016, is considered the largest cement importer in Israel and currently holds a market share of about 20% of the cement sector, which stands at about 10 million tons per year. The company controls the entire supply chain of cement to its customers. From the import phase of cement directly from the largest manufacturer in the world through a fleet of ships owned by the company, through its transportation and unloading at the company’s cement terminal at the Israel Shipyards port, storage and adaptation to customer requirements, to final distribution to the destination via the company’s truck fleet. The establishment of Cement led to a revolution in the cement industry in Israel and a fall in cement and concrete prices, the establishment of dozens of new concrete plants and annual savings of about NIS 2.5 billion for local authorities and government ministries.
In addition to the cement field, Cement also announced its entry into activity in the gypsum field and intends to establish a plant for the production of boards and gypsum products with an estimated investment of approximately NIS 100 million. The company is also about to complete, together with the start-up company Beyon3D, the establishment of the first plant for the production of concrete products, tiles and cladding by an innovative robot.
According to the report, Cement completed the acquisition of the company’s operations including equipment, licenses, recipes, formulas, permits, agreements, goodwill, intellectual property rights and use of Keshet Prima brands.
Eyal Hecht, CEO of Cement: “Cement is constantly expanding and diversifying its areas of activity and entering activity in various markets and areas. The company continues to increase its hold on the Israeli construction input market, while taking advantage of the managerial advantage and the supply chain and logistics of its activities on the sea line in the Israel Shipyards complex. ”
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