group
Brand
+4.62%
Base:257.7
opening:263.9
High:269.8
low:263.9
change:58,000
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which deals with the design and construction of electrical and control systems, metal infrastructures and energy facilities, has updated that it is conducting several negotiations for the performance of contracting works in the fields of systems, steel and constructions in a total amount of more than NIS 200 million, as well as offers received from third parties for the purchase of part of the renewable energy projects in the United Kingdom .
Brand’s share jumped by 19% since the beginning of the year (after falling by 46% in 2022) to a price of NIS 2.7, representing a market value of NIS 137.6 million.
in the field of systems – The company updated that the Margel subsidiary is conducting negotiations in advanced stages for the execution of two new projects, for two different work orderers, with an aggregate amount of approximately NIS 35 million. The subsidiary has begun performing preliminary work on the projects, which are expected to last up to three years.
In the field of steel – the company updated on advanced negotiations for the execution of the first phase of another project for an existing customer, which includes consulting work, planning and the purchase of materials in an estimated amount of NIS 30 million. The company expects that the first phase of the project will be completed during the year 2023. In addition, the company is In preliminary negotiations to carry out a project for another client, which includes consulting work, planning, steel construction production and construction installations on site, with an estimated amount of approximately NIS 37 million. The company anticipates that the aforementioned works will begin during the year 2023 and will be completed within two years from the date of their commencement.
in the field of constructions – The company updated that it is making progress in the negotiations it reported about a month ago, on the way to a significant project, which may yield it an estimated return of up to NIS 110 million. As part of the project, the subsidiary (76%) Grand Ofek Projects, signed an agreement for cooperation with an Italian corporation, to carry out works for the establishment of an industrial plant in Israel. Grand, the Italian corporation and the main contractor continue to negotiate a comprehensive agreement – and according to the company it is expected to be signed in the coming weeks.
in the field of renewable energy – The company updated that the board of directors approved in principle the signing of a detailed agreement, subject to final checks, for cooperation with a third party in the initiation and development of projects in the field of solar energy, wind and storage in Poland and Italy. The company is now in the final stages of negotiations to formulate and sign a detailed agreement.
In relation to operations in the UK, the company updated that it has received offers from third parties to purchase some of the projects it is developing in the UK, which are in various stages. The company is now considering the continuation of its steps, including the possibility of promoting the sale of some of the projects. As of this date, no decision has yet been made on the matter, but if a decision is made, the share of Brand Energy (a wholly owned company) in the sale of some of the projects may amount to millions of pounds.
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