Sources inform ''Globes'' that Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has bought a 76.7-dunam (14.2-acre) lot in the Yehiel Damati Modi'in District Industrial Park from Isras Investment Co. (TASE: ISRS) and Rassco Rural and Suburban Settlement Co. Ltd., controlled by Shlomo Eisenberg, for NIS 104.7 million. The 1,730-dunam (432.5-acre) industrial park is located near Shoham, a few kilometers from the Airport City business park. The industrial park is slated for three primary uses: warehousing and logistics, high-tech industry, and trade and services.
Teva reportedly plans to build its main logistic center on the site. More than 30 major companies have already decided to build logistics centers or offices at the Damati Industrial Park. They include Osem Investments Ltd. (TASE: OSEM), Universal Motors Israel Ltd. (UMI), Soglowek Ltd., Golan Heights Winery Ltd., Fedco Israel Industries (1991) Ltd., Moga International Ltd., and G. Beres Marketing Ltd.
The Damati Industrial Park is close to key traffic arteries, including the Jerusalem-Tel Aviv Highway, and the Yitzhak Rabin Highway (the Cross-Israel Highway). More than half of the park's area has been allocated for green space, including forest and archeological sites.
Teva said, "As part of Teva's strategic plan, under which we plan to double our sales and profits within five years, the company is investing heavily in a number of locations worldwide."
Published by Globes [online], Israel business news - www.globes-online.com - on May 1, 2008
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