The new plant will have a production capacity of 5,000 solar energy systems per year.
Chromagen, owned by Kibbutz Shaar Ha'amakim, will establish a plant for production of solar energy systems in Georgia, in partnership with a local energy and civil aviation company. Initial investment in the factory is estimated at NIS 5 million. The partnership will also include the supply of know-how and products made in an Israeli plant.
Chromagen general manager Hagai Shefer said that the new plant would have a production capacity of 5,000 solar energy systems per year. He noted that the decision to build the plant in Georgia was due to the severe energy supply problems in that country, including frequent lengthy power outages. He added that the new plant would enable the company to sell solar energy systems to other countries in the former Soviet Union and Asia. Chromagen recently signed a number of deals in countries that were formerly part of the Soviet Union, including three large projects totaling NIS 1.2 million in Uzbekistan.
Chromagen’s exports are expected to grow 15% to NIS 45 million this year, spread over 30 countries. Total sales are projected to reach NIS 150 million.
Published by Globes [online] - www.globes.co.il - on June 16, 2005