Katzir Fund buys 50 percent of agritech co Paskal - Paskal Technologies makes agricultural products for vegetable, fruit and grape vine hothouses
Kibbutz Industry Association's Katzir Fund has signed an
MOU to acquire 50 percent of Paskal Technologies Agricultural
Cooperative Society Ltd. for NIS 41 million. Paskal is owned
by Kibbutz Yaron and Iscar Ltd. honorary chairman Steff Wertheimer.
Katzir Fund managing partner Shaul Ashkenazi, will be appointed
chairman of Paskal. A member of Kibbutz Maagan Michael, Ashkenazi
is the former chairman of Plasson Industries Ltd. (TASE: PLSN).
Based at the Ma'alot Tarshiha industrial park, Paskal develops,
produces and markets agricultural products for vegetable,
fruit and grape vine hothouses. The products are designed
to save labor, boost productivity, and improve crop quality.
Most of the company's revenue is from exports, mainly to the
US, Canada, Mexico, Spain and France.
The Katzir Fund was founded by chairman Rami Mandola and
Harel Insurance Investments Ltd. (TASE: HARL), First International
Bank of Israel (TASE: FTIN1;FTIN5) and private investors.
The fund invests in shares and securities of kibbutz-owned
industrial enterprises and real estate ventures.
|