Fishman Holdings has acquired 50% of photovoltaic installations supplier Gsystems Solar Solutions Ltd.
Gsystems co-CEOs Dr. Israel Ohana and Adv. Avi Elkayam and VP business development Dan Zakai founded the company in 2008. It has an 8% share of Israel's PV market, and has installed hundreds of small and mid-sized facilities nationwide, which generate an aggregate five megawatts of electricity. Its orders backlog totals hundreds of millions of shekels.
Ronit Fishman said, "Fishman Holdings considered renewable energy in general, and PV systems in particular, as an important growth engine that conforms with the company's values of protecting the environment. The company examined a great many company in the field and was impressed by Gsystems' proven track record."
Ohana said, "We are proud that Fishman Holdings chose Gsystems as a partner to lead its PV operations. As a partner, Fishman Holdings' will enable Gsystems to offer customers a wide range of solutions for mid-sized and large systems, and it will provide the financial backing needed to build large-scale infrastructure facilities and to expand internationally. We consider Fishman's decision as a vote of confidence in the company's employees and managers to lead the PV industry in Israel in the years ahead."
Eliezer Fishman is the controlling shareholder in “Globes”.
Published by Globes [online], Israel business news - www.globes-online.com - on October 26, 2011
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