Feingold was the importer of Tissan steel in Israel. The joint company will expand its activities to infrastructure, energy and high-tech.
Giant German steel concern Tissan purchased at the weekend 60% of Feingold S. & Sons Steel (Haifa), which for years served as the exclusive importer for Tissan steel in Israel. This is the first investment in Israel by the multi-national German concern.
Dan Feingold, with 40% ownership of the joint company, and his son Gideon Feingold, will be joint general managers.
Tissan’s decision to enter the Israeli market stems from a strategic assessment at the concern’s helm, that Israel will become the technological center of the Middle East within several years. According to the assessment, in order to play a central and active role in this process, Tissan, whose world-wide activities amount to GM 100 billion per annum, must invest in Israel as early as possible.
Published by Israel's Business Arena March 31, 1998