The planned plant will be a full partnership with a Jordanian company.
Annual sales are expected to reach $9 million.
Caniel Israel Can Company on Tuesday announced it was conducting
negotiations for the building of a tin can plant in Jordan. The planned
plant will be a full partnership with a Jordanian company. Investments
in the construction of the plant are expected to reach $6 million.
New plant annual sales are expected to reach $9 million, said Caniel
officials.
Caniel manufactures and markets tin cans for the edible product, oil,
detergent, beer and beverage industries. The company is the largest of
its kind in Israel, and is even considered a monopoly.
Caniel sales in 1995 amounted to NIS 258 million. Caniel 1995 net profit
reached NIS 4 million. Company sales in the first quarter of 1996
totaled NIS 55 million, but the company past from a profit to a NIS
300,000 loss