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Hanita Coatings Restructures Following New Financial Partnership

Published on 2005-01-31. Author : SpecialChem

Hanita Coatings, the Israeli converter of metallized, coated and laminated polyester films, recently announced a change in ownership, and a modification of the company's organizational structure to allow the inclusion of a new partner. Accordingly, operations have been transferred to Hanita Coatings RCA Ltd, under the joint ownership of Kibbutz Hanita (75%) and Tene Investments (25%).

The financial reorganization of the company will not affect day-to-day operations at Hanita Coatings. The new partnership will help finance the large investment in equipment, construction and human resources presently underway, expected to double the company's production capacity by mid-2006.

About Tene Investments:

Tene is a new $25m investment fund dedicated to investing in Israeli Kibbutz industries, established by Tenram, Phoenix Insurance; Bank Leumi Investment Company and others. The fund is headed by Dr. Ariel Halperin, one of Israel's leading economists.

About Hanita Coatings:

Hanita Coatings is an Israeli coating, metallizing and laminating company that specializes in the conversion of polyester films for label face stock; window films for solar control and glass security; digital print media and high performance flexible packaging.

Source: Hanita Coatings

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