Tadiran-Ampa Ltd. has begun independent production of refrigerators under both the Amcor and Tadiran brands, after it and Tadiran Appliances consolidated their refrigerator factories in Afula.
As reported by "Globes", Tadiran-Ampa is taking thorough streamlining measures. Tadiran-Ampa is owned by Nechushtan Investments' (TASE:NCST1; NCST5), controlled by Levi Kushnir and Uri Kwitak, and Ampa Ltd, controlled by Asher and Shlomi Fogel.
The owners invested $3 million in production equipment and hired 65 employees, as part of the merger of the factories. 25 of the employees previously worked on Tadiran Appliances' refrigerator production line. The new factory will have 100 employees by year-end.
Kushnir, who has served as Tadiran-Ampa president for the past nine months, said, "The main change is the return of the Amcor brand as the market leader. Regrettably, it was neglected and improperly managed. We turned the company around in 2004, we're leading it in 2005, and we believe it will again be the leader."
The Afula factory produces 70-75% of Tadiran-Ampa's refrigerators, under both the Amcor and Tadiran brands. The rest, mostly small and office refrigerators, are imported from Turkey. Tadiran Appliances, wholly owned by Carrier of the US, previously managed the Afula refrigerator factory, which is adjacent to its air-conditioner factory.
Published by Globes [online], Israel business news - www.globes.co.il - on January 20, 2005