The company bought land in the Wertheimer’s Tefen industrial park and will invest $7 million in the center’s infrastructure and building.
Flash storage developer SanDisk Corp. (Nasdaq: SNDK), run by chairman and CEO Dr. Eli Harari, is expanding its operations in Israel. The company, which currently has 70 employees at its development center in the Tefen industrial park, will invest $7 million in expanding the center’s infrastructure and building. SanDisk established the center in 1996.
SanDisk VP and SanDisk Israel management director Shimon Stolero said the company negotiated with Eitan and Stef Wertheimer to buy land for its new development center at Tefen. “Stef met Harari in 1991, and proposed that SanDisk set up a center at the Tefen industrial park. Since then, the Wertheimer family has supported our expansion at Tefen. In the present round, when they heard about our lack of space, they offered to sell us 5,000 sq.m. of land for the project,” he said.
Stef Wertheimer is the honorary chairman of Iscar Ltd. and Eitan Wertheimer is the company president.
Published by Globes [online], Israel business news - www.globes.co.il - on June 28, 2006
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