Communications equipment maker Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) is showing signs of recovery. After falling into receivership and being sold to Valley Telecom Ltd., the company has appointed a CEO and is hiring. Sources inform ''Globes'' that the CEO who has been chosen is Giora Levy, the COO of Ness Technologies Ltd. He previously held procurements and logistics positions at Ness, superDimension Ltd. and Comverse Inc. (Nasdaq: CNSI).
Valley Telecom owner Jorge Pinievsky confirmed the report. When Levy takes up his post, Piniesky will become chairman of Alvarion. "The company's policy has been outlined, and the work team will execute it. The entire Alvarion team is pulling together," he said.
Alvarion wants to hire developers and salespersons experienced in its area of business. In addition, Mobile Tornado Ltd., which Pinievsky co-founded and manages, is also hiring developers and salespersons. Pinievsky says that the companies plan to hire 10-15 employees each. He does not think that employees will be deterred by Alvarion's dismal jobs history. "We had a management failure here. The company now has good sales. I cannot say that all the customers have come back, but many are showing confidence. We have millions in orders, and a very good feeling," he said.
Valley Telecom acquired Alvarion, which has a market cap of $4 million, for NIS 38 million. In December, the court will hold a hearing on the company's debt settlement.
Published by Globes [online], Israel business news - www.globes-online.com - on November 24, 2013
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