The products will be manufactured by the company's subsidiary Rimoni Plast
Plastic products manufacturer Rimoni Industries Ltd. (TASE:RIMO) has won a $7 million order from drip irrigations solutions developer Netafim Ltd.. The two companies signed separate agreements for the supply of special molds for Netafim's products and for the supply of plastic products themselves, both of which will be produced by its subsidiary Rimoni Plast Ltd.
Rimoni said the order would be delivered over two years, with revenue totaling $4 million in the first year, and the rest in the following year.
Rimoni has gained 15% since the beginning of the year, to give a market cap of NIS 186 million.
Published by Globes [online], Israel business news - www.globes.co.il - on October 21, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007