Importer of Cement Cement, a subsidiary of
Israel Shipyards
+0.12%
Base:8,334
opening:8,334
High:8,417
low:8,333
change:28,278
Page Quote News Graphs Company Profile Recommendations
More articles on the subject:
Buys through a company owned by it (100%) the adhesives and powders activity for the construction field from Keshet Prima for NIS 90 million. The revenues of the acquired activity amounted to NIS 204 million in 2021, compared with approximately NIS 194 million in 2020. The operating profit of the acquired activity amounted to approximately NIS 28 million in 2021, compared with approximately NIS 23 million in 2020.
Approximately NIS 61.5 million of the consideration will be financed from Cement’s shareholders’ equity and through bank financing. The remainder of the amount will be transferred subject to conditions agreed upon by the parties and according to a mechanism relating to the Company’s results for 3-5 years from the date of completion of the transaction. The parties will also sign an agreement for the provision of services, including management services for a specified period of time.
As part of the activity that Cement will receive, Keshet Prima is currently developing, producing and selling adhesives and powders in the field of construction. The activity is managed by Dr. Raanan Geshuri, who will continue to serve in his position for at least three years. The cement says that the deal will help it expand its product portfolio and enjoy synergy with the group’s existing logistical and financial capabilities.
Towards the end of 2021, Israel Shipyards increased its holdings both in Cement, the largest cement importer in the country, and in ISCO, which sells cement products abroad. The revenues of the cement operations accounted for half of the total revenues of Israel Shipyards, and the company is now using their increased power to advance their strategy, with the aforementioned emphasis on synergy and the development of additional growth engines.
Cement has also previously announced its intention to begin operations in the field of gypsum and that it is examining the possibility of establishing a plant for the production of gypsum boards and products. In addition, the company, together with an Israeli start-up company in the field of the production of tiles and other elements from concrete, is establishing a factory for the production of concrete products, tiles and claddings by using robots.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment