Plasan Sasa has announced the acquisition of the automotive composites business of Vermont Composites, a US company located in Bennington, Vermont, a manufacturer of carbon fiber component parts for the automotive market.
According to Dan Ziv, CEO of Plasan Sasa, “The US is our largest market and this was an important strategic decision for us. This acquisition will provide Plasan with armor production capabilities in the United States and will enable us to deepen and expand our relationships with our U.S. customers and partners. We are also enthusiastic about the prospects of the automotive parts business and feel it will grow significantly in the future."
Plasan's sales grew from $7.4 million in 2000 to $145 million in 2005 - with more than 70 percent of the orders coming from the USA and Europe.
Established in 1985, Plasan Sasa develops, manufactures and assembles armor for lightweight military tactical trucks and APC’s, for fixed and rotary wing aircraft, commercial vehicles, and also supplies personnel protection armor
Published by Globes [online], Israel business news - www.globes.co.il - on September 13, 2006
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