N. Feldman & Son, a subsidiary of Tiferet Group Holdings, will be the sole representative in Israel of Japanese mechanical engineering equipment manufacturer Komatsu. The cooperation agreement between the two companies was signed yesterday during a professional exhibition in Paris. Signatories on the agreement included N. Feldman CEO Avi Levinson, Tiferet Group CEO Ran Gants, and senior representatives of Komatsu in Europe.
Under the agreement, Komatsu and N. Feldman will build a logistics center in Israel within two years at an investment of NIS 30 million. The center will have 20 employees. It is still unclear where the center will be built. "The signing of the agreement with the Komatsu concern will greatly expand N. Feldman's activity in Israel," Gants said today.
The Japanese concern specializes in production and marketing of mechanical engineering equipment, industrial production line machinery, and military equipment. The company is headquartered in Tokyo, and its business turnover over the past year totaled nearly $18 billion. Komatsu has over 180 subsidiaries.
Tiferet Group acquired N. Feldman two and a half years ago, among other things because of a projected shortage of mechanical engineering equipment for a series of anticipated infrastructure projects around Israel. The group announced its intention of importing advanced innovative mechanical engineering equipment to Israel under its cooperation agreement with the Japanese concern. "The entry of a concern like Komatsu into Israel will bring innovation to the sector and expose it to technological innovations, while giving the industry a substantial boost," Levinson said. Tiferet Group estimates the mechanical engineering equipment market in Israel over the past year at NIS 1.7 billion.
Tiferet Group also holds a franchise to import leading brands of agricultural equipment to Israel such as mechanical engineering equipment and spare parts for trucks, tractors, and vehicles. N. Feldman recently signed a representation agreement in Israel with a Chinese concern, in which it plans to import equipment for the construction industry to Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on April 30, 2018
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