Toolgal Degania Industrial Diamonds, owned by Kibbutz Degania A, is expanding overseas. Toolgal is founding a company in Turkey in cooperation with a local partner from Istanbul. The company in Turkey, Sinter Company, will produce and market tools to the Turkish marble industry. It has already won its first international tender to supply saws for the gravestone industry in India.
Toolgal Degania general manager Gil Itzaki estimated that joint deals would reach $3 million within two years. Toolgal develops, produces, and markets cutting and drilling solutions.
Toolgal and its Turkish partner own the joint company in equal shares. Itzaki said that Sinter would buy components from Israel, and manufacture cutting tools in Turkey with the help of Israeli know-how.
Under the tender won by the joint company in India, Toolgal will supply saws with diamond heads for granite cutting, plus a series of special tools designed for sharpening and polishing granite profiles used in the gravestone industry.
The contract in India was signed with two companies from Chennai (Madras) that manufacture gravestones, mostly for export to the US and Spain. Itzaki said that India currently led the world in the production of gravestones.
Published by Globes [online], Israel business news - www.globes.co.il - on December 21, 2004