The companies are Ein Hashofet-owned MAG and Revivim-owned Raval.
Sources inform “Globes” that Shamrock Holdings has invested in two kibbutz enterprises that manufacture systems for the global auto industry: MAG, owned by Kibbutz Ein Hashofet, and Raval ACS, owned by Kibbutz Revivim. Including exercise of options, the total investment will amount to $13 million.
Shamrock this week completed the first stage in the investment: $8 million in MAG, at a company value of $36 million for MAG, after money. MAG develops, manufactures, and markets mechanical and electromechanical systems for the auto industry.
Raval develops and manufactures high-tech venting systems for automotive fuel tanks. Shamrock will invest $5 million in two stages for 22% of the company, at a company value of $22 million, after money.
Published by Globes [online] - www.globes.co.il - on Wednesday, September 8, 2004