Melta-Inter Industries Ltd. (TASE: MALT) unit Inter Electric Installations (1983) Ltd. has won a €2.23 million contract to build high and very-high tension systems at a power plant in Gabon, in West Africa. Inter Electric Installations will be a subcontractor to the chief contractor of the power plant.
Work is due to take 12 months.
Based in the Zipporit Industrial Park near Nazareth, Melta-Inter manufactures electrical circuits for the electronics and military industries. Inter Electric Installations specializes in industrial projects.
First Israel Turnaround Enterprises LP owns 22% of Melta-Inter. The company's share price rose 4.3% to NIS 6.05 in morning trading, giving a market cap of NIS 53 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 21, 2010
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