Matar aluminum and magnesium foundry of Kibbutz Givat Brenner is expanding its vehicle parts operations. The kibbutz is negotiating with eight concerns to come in as partners, and is considering selling control of the company.
Matar aluminum and magnesium foundry of Kibbutz Givat Brenner is planning to transfer fire-fighting and irrigation production lines to Hungary. Some employees, mostly elderly kibbutz members, will be laid off, Matar general manager Zvi Ritterband told "Globes" today.
Matar is simultaneously planning to expand production facilities for vehicle parts. Kibbutz Givat Brenner, the full owner of Matar, is planning to bring in a partner for this purpose, and is even considering selling control of the plant to the partner.
Ritterband said Givat Brenner is negotiating with eight concerns, including three foreign ones from Hungary, India and Austria. The other five concerns are Israeli, including Koor Metals. "I think which investor or investors to bring in by the end of the month," Ritterband said. He did not reject the possibility that the partner would have control of the plant.
Published by Israel's Business Arena on 7 October 2001