Lageen Food Packaging News
2 articles
growth-positive
Bulgaria's LS Tubes plans to open new production line by end-2017
LS Tubes, a Bulgarian-registered packaging products manufacturer, plans to open a new production line for flexible plastic tubes by the end of the year. The automated production line will have a capacity of 130 tubes per minute and will be installed in the companys manufacturing plant in Gabrovo, Bulgaria. LS Tubes plans to invest 10 million levs ($5.9 million / 5.11 million euro) in machinery and equipment for its operations in Bulgaria, as well as in training highly qualified workers in Israel. The investment is expected to create more than 70 jobs. LS Tubes is jointly owned by STS Pack Holding and Lageen Tuboplast.
InvestmentExpand
growth-positive
Bronfman Fisher group buys Kibbutz Yagur production line
Palace Industries, a subsidiary of Isralom Properties Ltd., has acquired the food packaging production business of Lageen Ltd. for NIS 17 million. The agreement includes the purchase of inventory and equipment. Palace Industries will pay NIS 2.5 million upfront and the remaining balance in installments. The company recently raised NIS 35 million in bonds. Palace Industries is traded at a market cap of NIS 58 million and posted a profit of NIS 1.2 million in January-September 2010.
Acquisition
