Phoenicia America-Israel (Flat Glass) Ltd. will dedicate a new glass factory for solar power panels in the next few days. The company invested $60 million in the new factory in Nazareth Illit's Tziporit Industrial Zone.

Most of the production of the glass panels will be for export. According to company president Oded Tyra when the new plant is operating at full capacity it will generate $120 million in annual revenue.

At present Phoenicia exports 80% of its production to Spain, Greece, Turkey, Germany. South America, India and Australia.

Tyra said that the company will expand its green energy activities in the coming months and enter new markets worldwide increasing exports to 90% of its production.

Published by Globes, Israel business news - www.globes-online.com - on September 28, 2010

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