Shares of Hatehof Ltd. (TASE:THF), a manufacturer of armored cars, firefighting and rescue vehicles, and other equipment, are drawing attention on the Tel Aviv Stock Exchange (TASE) today in the shadow of the huge Carmel fire. Investors apparently believe that the company will win contracts for the delivery of firefighting equipment, as it is clearly obvious that the Fire and Rescue Services will be utterly transformed in the fire's aftermath.
The Fire and Rescue Services and Keren Kayemet are Hatehof's main domestic customers.
In its financial report for the third quarter of 2010, Hatehof said, "In recent years there was a substantial drop in activity in this sector (its firefighting and rescue division) because of reductions in the development budget of the Ministry of Interior."
Hatehof's share price rose 12.3% in morning trading today to NIS 0.85, giving a market cap of NIS 42 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 5, 2010
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