The manufacturer of security vehicles is negotiating for NIS 300 million of new orders.
Security vehicle manufacturer Hatehof Ltd. (TASE:THF) saw its share soar by 197%, virtually trebling its value, after it reported negotiating new orders worth NIS 300 million.
The company announced that the orders were from various companies in Israel and overseas.
Hatehof general manager Shimon Shacham told Globes, "During the recession the security industry is suffering less setbacks than other sectors for several reasons. Firstly, in a crisis this sector's needs are greater. More people are taking to the streets to demonstrate."
"In addition customers in the institutional market such as Ministries of Defense and fire service authorities are less influenced by the crisis than private companies. Even so budgets of institutional authorities are likely to be reduced."
Published by Globes [online], Israel business news - www.globes-online.com - on February 24, 2009
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