Delta Galil Industries Ltd. (Pink Sheet: DELTY; TASE: DELT) today reopened its textiles factory in Egypt. The company closed the factory last Sunday, as the uprising in Egypt gained momentum
Delta's share price rose 3.8% by early afternoon on the TASE to NIS 31.50, giving a market cap of NIS 716 million. The share price fell 10.5% last week, while the Egyptian factory was closed.
Delta's Egyptian factory mainly produces apparel for the high-end market, and is responsible for 11% of the company's total sales, of which 9% comes from the factory itself and the rest from local subcontractors. Delta had 7,500 employees worldwide at the start of 2010, including 2,835 in Egypt. The company also has production plants in Israel, Jordan, Bulgaria, and India.
Published by Globes [online], Israel business news - www.globes-online.com - on February 6, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011