JTA NEWS
18 February 2018 - 4 Adar 5778 - ד' אדר ה' אלפים תשע"ח
JTA NEWS :
Business
Road shows promote manufacturing solutions E-mail
A delegation of Israeli companies providing advanced solutions for the manufacturing industry held a road show in May in China, including B2B meetings in Taipei, Guangzhou and Hong Kong.

This is the first road show of 2017 led by the Israel Innovation Authority (formerly the Office of the Chief Scientist). Similar activities are expected in Japan (a Fintech showcase in September 2017) and in Central China (November-December 2017).

Eight leading industrial companies participated: ATE – Labs Engineering, Colibri Spindles Ltd., Elbit Vision Systems Ltd., Elmo Motion Control Ltd., Frisimos Technologies Ltd., K&S Advanced Systems Ltd., LeaderMES and Precognize. Throughout the week, the companies held hundreds of one-on-one meetings with companies, factories and corporations in each of the Chinese cities.

Apart from the B2B meetings, the event included a visit by Israeli companies to the Taiwanese Fair Friend Group, the world’s third-largest manufacturer of industrial machinery – the company owns 39 different brands and has 52 factories around the world.
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China citrus market ripe for Israel E-mail

Following what it says is the substantial harvest growth of Jaffa Orri mandarins, Israel’s Plant Production and Marketing Board has identified the China market as the next target to grow its exports in 2017.

China is the number-one grower of citrus worldwide, with 20 million tons in 2016, the board said, while it also imported 21,000 tons of mandarins in the 2015/16 season – an increase of 10% over the previous year.

“We expect to dramatically increase sales volumes of delicious Jaffa Orri in the China market in 2017,” said Tal Amit, head of the citrus sector at Israel’s Plant Production and Marketing Board. “The Chinese are fond of fresh produce, are seeking premium mandarins and are willing to pay for its delicious taste.”

According to the Produce Marketing Association, China is the world’s largest e-commerce market and is rapidly growing. One of the main drivers of this exponential growth has been sales of online fresh fruit; online purchasing of fresh produce is quickly becoming a preferred purchase channel for Chinese consumers, especially among young professionals in tier-one cities. Sales of online fresh produce were nearly US$4 billion in 2014, with industry forecasts predicting a market size of US$16 billion and a total fresh produce market segment of 15% by 2018.

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Chinese Government leases more Tel Aviv office space for cultural centre E-mail

The Chinese Government has signed a lease for 1,015 square metres in a new building at 30 Habarzel Street in the Ramat Hahayal industrial zone in Tel Aviv, the same neighbourhood in which the Chinese embassy is being built.

The site, already in the advanced stages of construction, was purchased by Amot Investments Ltd from the Taiber family last November for NIS 250 million.

The Chinese Government will pay NIS 20 million for the lease, including NIS 14.5 million in rent and payments for adjusting the building to its needs, and will establish a cultural centre there. The lease was negotiated by the Chinese Ministry of Culture and the Chinese cultural attaché in Israel, Wan Ting. The Chinese Government acquired the Comverse Inc. building for its embassy 18 months ago, paying NIS 200 million.

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Ben Gurion airport named among world’s top ten E-mail

Online travel agency eDreams recently named Ben Gurion airport in Tel Aviv one of the top ten airports in the world, and #1 in the world for shopping.

eDreams evaluated more than 65,000 reviews submitted by its customers in 2016 to create the ranking, which highlights 10 airports, taking into account their global quality. The top three airports in the categories of waiting areas, shopping and restaurants were also named. The other airports that made the top ten were: Helsinki-Vantaa, Glasgow International, Zurich, Munich F J Strauss, Frankfurt, Geneva, Bangkok International, Oslo Gardermoen and Dublin.

Ben Gurion was listed as the best airport for shopping. A website allows travellers to check out prices and special offers at some of the stores before they arrive at the airport.

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Frutarom acquires Vietnamese company WFF E-mail

Israeli flavours and natural specialty fine ingredients company Frutarom Industries Ltd announced recently that it has acquired 60% of the Vietnamese company Western Flavors Fragrances Production (WFF) for US$1.3 million.

The purchase agreement includes an option to purchase the balance of WFF shares within four years from completion of the transaction, at a price based on the future business performance of WFF. The transaction, to be financed through independent means, will be completed soon. WFF has annual sales of US$1.5 million. This is Frutarom’s third acquisition in 2017 – it has already bought the French company Rene Laurent for US$23.5 million.

WFF was founded in 2003, has 44 employees, and develops, produces and markets flavours, mostly sweet flavours, with an emphasis on dairy, beverages, confectionery and baked goods. The company has a broad portfolio of products and around 300 customers from among the leaders in their fields in Vietnam. WFF has a plant and laboratory in Ho Chi Minh City and a sales and a marketing office in Hanoi. Frutarom intends to build a modern new flavours plant in Ho Chi Minh City that will enable it to significantly expand its activity in the Vietnamese market and in the growing countries of the region.

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