Mul-T-Lock signed a NIS 15 million three-year agreement with Ness Technologies to manage information systems.
Mul-T-Lock will invest NIS 50 million over the next three years to expand its R&D activities, and buy innovative production technologies and information systems.
Mul-T-Lock signed a NIS 15 million agreement with Ness Technologies under which Ness will operate Mul-T-Lock’s information and ERP systems.
Mul-T-Lock president and CEO Tzachi Wiesenfeld told “Globes” that the company made over 2 million locks and cylinders in the past year. Mul-T-Lock has 400 employees in Israel and 100 at four subsidiaries in Canada, the US, UK and France. Mul-T-Lock is examining establishing two more subsidiaries in Europe to exploit rising business in Eastern Europe.
Mul-T-Lock’s turnover in 2001 was NIS 200 million, including NIS 160 million in exports.
Wiesenfeld added that the company had recently set up a unique new research department for electronic locks at an investment of NIS 5 million.
Published by Globes [online] - www.globes.co.il - on December 26, 2002