Sodastream to build Negev factory

The new factory will employ 500 people, mostly from the Bedouin town of Rahat.

Sodastream International Ltd. (Nasdaq: SODA) today notified Minister of Industry, Trade and Labor Shalom Simhon that it has decided to buy the land for its new factory in the Eden Hanegev industrial zone, north of Beersheva, jointly owned by the Bnei Shimon Regional Council, and the towns of Lahat and Rahat.

Simhon welcomed the decision, noting that the company would employ 500 people, mostly from the Bedouin town of Rahat. Sodastream already employs 1,100 people in Israel. He added that the factory would give a big boost to the new industrial zone and encourage other companies to move to the Negev.

Sodastream's share price rose 1.6% in early trading on Nasdaq today to $41.11, giving a market cap of $820 million.

Published by Globes [online], Israel business news - www.globes-online.com - on February 6, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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