acquisition of Kordarna and Avgol
The Kordarna acquisition includes one production site in the Czech Republic and one in Slovakia, with a combined tire cord and technical fabrics production capacity of 50,000 tons/year. The company employs a staff of 786. The transaction is expected to be completed during the 2nd half of 2018.
Ventures has also entered into a definitive agreement to acquire a 65.72 % stake in Avgol Industries 1953 Ltd., Tel-Aviv/Israel, an Israellisted global nonwovens manufacturer for a sum of US$ 1.62 per share. The transaction is expected to be completed during the 2nd half of 2018, subject to regulatory approvals.
Avgol has 6 production sites globally in Israel, the USA, Russia, China and India, with a combined production capacity of 203,000 tons/year, and employing 900 employees worldwide.