Frutarom to invest NIS 110m in new Israeli plant, R&D center

Frutarom will build a new plant in the Lower Galilee for the production of natural products and plant extracts.

Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; Pink Sheets:FRUTF) will invest NIS 110 million to build a new plant in the Gilboa region in the lower Galilee for the production of natural products and plant extracts and to serve as an R&D center for the production of taste and health products.

Frutarom says that the new plant will enable it to meet increasing global demand for its products, and improve operational efficiency and synergies between its Israeli and international activities.

The Ministry of Industry and Trade's Investment Promotion Center yesterday gave the new plant approved enterprise status, which will make it eligible for various tax breaks and other benefits under the Law for the Encouragement of Investments. Frutarom said that the investment in the new plant will amount to 20-24% of its investment in fixed assets.

Published by Globes [online], Israel business news - - on October 16, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018