JTA NEWS
22 November 2017 - 5 Kislev 5778 - ה' כסלו ה' אלפים תשע"ח
JTA NEWS :
Business
Israeli winery setting up in China E-mail

According to Haaretz, China is on its way to becoming the second-biggest wine market in the world as Chinese tipplers grow increasingly fond of the grape, and now one Israeli winery is set to get a piece of the action.

Hayotzer Winery, a unit of the Arza Winery, has reached an agreement in principle to help the Chinese group Hubey Pengdun to set up an US$8 million winery in Hubei Province and advise it on viticulture and winemaking, said Guy Edri, Hayotzer’s CEO.

Under the terms of the agreement, Hayotzer will get around a 25% stake in the new venture, which will take two years to erect once it has received all the regulatory approvals.

“In China, those who know Israel admire us because of our high-tech and admire the Jews because of history going back thousands of years and our Nobel Prizes,” Edri said, explaining why a Chinese company would turn to Israel rather than France or Italy for wine expertise.

Chinese wine consumption has experienced double-digit growth in recent years, and by one estimate it will have surpassed France and Britain by 2020 to become the world’s second-largest business market after the US. That adds up to US$21.7 billion in sales in 2020.

Even now, Chinese wine consumption amounts to 1.5 billion bottles annually. Only about a quarter of that, mostly cheaper labels, is produced locally; the rest comes from imports, mainly from France, Italy, Spain and Australia.

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LRSAM missile from Israel delivered to India E-mail

India announced on 29 August that the first long-range surface-to-air missile (LRSAM) system had been delivered to the Indian defence ministry.

The missile is a product of a partnership between Israel’s aerospace industry and the Indian defence organisation. Israel Aircraft Industries (IAI) announced in May that it had signed a deal worth US$630 million with Indian state-owned Bharat Electronics Limited.

As part of the agreement, IAI supplied the LRSAM missile, the marine version of the Barak 8 air defence system, to be installed on four Indian Navy vessels.

Arun Jaitley, India’s Minister of Defence, praised the delivery, affirming that it marked a turning point for India’s defence capabilities.

“This is an historical day for India, in which our navy becomes the proud owner of one of the most sophisticated systems in the world. This system will help the Indian Navy protect our country,” he said.

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Elbit Vision wins order from Taiwan E-mail

Israel-based Elbit Vision Systems Ltd., a pioneer in the science of camera-based automatic vision inspection for textile fabrics and technical webs, announced on 19 September that it had received an order totalling over UD$650,000 from a Taiwanese customer.

The order, involving both IQ-TEX4 and SVA systems, was placed by a customer that had previously bought a single IQ-TEX4 system. The systems will be installed in factories in both Taiwan and the US by the end of this year.

Sam Cohen, CEO of EVS, commented: “We are very pleased with this follow-on order from a very important and influential customer. Their positive experience with our systems and the quick return on their investment demonstrates how an initial penetration of our technology leads to a strong, lasting partnership. ”

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Japanese firm acquires Israeli pharmaceutical company NeuroDern Print E-mail

Israeli pharmaceuticals company NeuroDerm Ltd has been sold for US$$1.1 billion. The buyer is Japanese company Mitsubishi Tanabe Pharma Corporation (MTPC). The transaction is the largestever acquisition of an Israeli healthcare company, and one of the largest acquisitions of an Israeli company of any kind.

NeuroDerm is a clinicalstage pharmaceutical company developing drug-device combinations for central nervous system (CNS) disorders. The acquisition by MTPC has received unanimous approval by NeuroDerm’s board of directors. Assuming typical regulatory and shareholder approval timeframes, NeuroDerm anticipates that the transaction will close in the fourth quarter of this year.

“We believe that this transaction will yield important benefits for NeuroDerm’s shareholders and the Parkinson’s disease patients who urgently need new therapies,” said Dr Oded Lieberman, CEO of NeuroDerm. “MTPC has demonstrated development and commercialisation expertise in the field of neurology and we are confident that the combination of their resources and the robust data supporting ND0612, our Phase III Parkinson’s disease product candidate, will help make this important new therapy available as broadly and rapidly as possible.”

(Issue Sep 2017)

 
Camtek sells its PCB business to Shanghai investment group E-mail

Israeli semi-conductor company Camtek Ltd recently signed a definitive agreement with an affiliate of Principle Capital, a Shanghai-based private-equity fund, to sell its printed circuit board (PCB) business for US$35 million.

Camtek CEO Rafi Amit said: “This agreement is in line with our long-term strategy. Camtek will become a pureplay semiconductor inspection and metrology-focused company, where we see many growth opportunities ahead. Our stronger balance sheet will also make it easier for us to explore synergetic acquisitions in our sector. Camtek as a semiconductor company will potentially present higher growth rates with improved gross margins.”

He added: “This agreement will enable Principle Capital to build a leading Asia based PCB inspection and metrology company, capitalising on our well-positioned PCB unit.”

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