Omen High Pressure Die Casting is expected to post NIS 100 million in sales in 2005, mostly from exports.
Tene Investments will acquire 30% of Omen High Pressure Die Casting for $6 million. Omen High Pressure Die Casting is expected to post NIS 100 million in sales in 2005, mostly from exports. Tene Investments’ main investors are Leumi & Co. Investment House Ltd. and Israel Phoenix Assurance Ltd. (TASE:PHOE1;PHOE5).
Tene Investments is managed by Tenram, controlled by Dr. Ariel Halperin. Tene Investments invests in kibbutz-controlled enterprises. It has made two other investments so far this year: in Hanita Coatings of Kibbutz Hanita; and in Netafim, owned by Kibbtuz Hatzerim, Kibbutz Magal, Kibbutz Yiftah, and Markstone Capital Partners Group LLC.
Founded in 1946, Omen High Pressure Die Casting recently won long-term contracts, which will boost its business. Tene Investments’ investment will enable the company to greatly expand production.
Published by Globes [online], Israel business news - www.globes.co.il - on September 7, 2005