Cement, part of the Israel Shipbuilding Industries Group, is expanding its activity in the field of construction materials and acquiring additional activity in the field. Israel Shipyards Industries, controlled by Shlomi Fogel, the Schmelzer family and Sami Katsav and managed by Zvika Schechterman, reported that Cement will acquire 70% of the activity of the largest gypsum board importer in Israel, Onat Pan, for NIS 6.7 million. This acquisition joins the acquisition of another activity in the field of construction products that Cement recently completed – the activity of the adhesive manufacturer Keshet Prima. The company says that this is another step that it is leading in opening up the construction materials market to competition.
The market for gypsum boards in Israel is estimated at half a billion shekels, and about 36 million square meters of boards are sold in Israel every year. The local market is controlled by Orbond and Tambour, which hold about 80% of the market. An additional 20% is imported by a number of small importers and by the main importer – Onat Pan. The company was founded by Ahmad Otman and his sons, who have over 20 years of experience in the field of import and trade. In addition to gypsum boards, pan liner also imports white blocks (concrete gas). The company has an exclusive import concession to Israel from the factory of Onat Pan Corporation in Turkey, which is considered one of the most advanced factories in the world in the field of gypsum boards and operates in German technology.
Under the agreement, Pan Onat’s operations will be merged into a dedicated company that will focus on operations in the areas of gypsum and blocks. Cement will hold 70% of the company’s shares and the balance will be held by Ahmed Othman and Sons. According to the report, Cement intends to expand its activities to import, market and sell gypsum and its products, gas-concrete blocks and related products, in accordance with the company’s business strategy, and to continue to develop the basket of services and products in the field of construction products.
Eyal Hecht, CEO of Cement: “Cement continues to lead the consumer revolution that began with the opening of the cement market to competition and lower prices. We intend to continue to expand and offer a wide range of products and solutions to the construction industry in Israel. This is done by combining the advantages inherent in the port of Israel’s shipyards and the company’s fleet of ships, together with the logistical capabilities and the financial backing of the group, which enables the financing of transactions in the field. “