Aside from GlaxoSmithKline, Habonim Industrial Valves is negotiating sales with another European drug company.
Habonim Industrial Valves Ltd. is supplying more pneumatic valves for the international pharmaceutical industry. The company has won an international tender to supply pneumatic valves for the manufacturing sites of British pharmaceutical firm GlaxoSmithKline (NYSE, LSE: GSK) around the world for $7 million.
Habonim Industrial Valves president Uri Oliner said that the agreement with GSK was for the long term, while the estimated value was for the first two years only.
Based in Kibbutz Kfar Hanassi, Habonim Industrial Valves manufactures ball valves and pneumatic actuators. Six international companies from the US, Germany, the UK, and Israel participated in the tender.
Habonim Industrial Valves also announced that it was in advanced negotiations with another European pharmaceutical company for an agreement to supply a similar volume of products. Habonim Industrial Valves has supplied products to Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) and Taro Pharmaceutical Industries (Nasdaq: TARO) for years at the two companies’ production facilities in Israel and in other countries.
Published by Globes [online] - www.globes.co.il - on August 19, 2004