Melta-Inter Industries Ltd. (TASE: MALT) has signed a cooperation agreement with WUS Printed Circuit Co. Ltd. of Taiwan. Under the contract, Melta will be the exclusive distributor for WUS products in Israel. Melta estimates that the contract will boost its revenue by several million dollars a year.
WUS, which has plants in Taiwan and China, is one of the world’s largest manufacturers of PCBs, with $692 million in sales in 2006.
Melta has 340 employees. The company has two main divisions, with Melta Circuits Ltd.responsible for the design and production of PCBs. The company has not yet published its financial report for 2006, but market sources believe that that Melta Circuits will contribute NIS 100 million to the company’s consolidated revenue. The new contract has the potential to give Melta Circuits double-digit growth.
Melta’s second division, Inter Electric, Ltd. installs electrical systems, automated electrical systems, command and control systems, and produces electrical boards and related products. Last month, the company won a NIS 38 million Intel Corp. (Nasdaq:INTC) tender to carry out electrical work at Fab 28 in Kiryat Gat.
Melta president and CEO Joseph Hummel said, “The collaboration with WUS will help Melta meet its high growth targets.”
WUS CEO Macushta Chen said, “The two companies provide complementary products and the collaboration will help them expand their businesses.”
Published by Globes [online], Israel business news - www.globes.co.il - on February 19, 2007
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