OK Play will manufacture and sell Hofit Kibbutz Kinneret sepctic tanks, separators, and other water treatment products.
Hofit Kibbutz Kinneret Ltd. (TASE: HOFI-L) has sold intellectual property relating to water treatment and products to plastic toy and containers manufacturer OK Play India Ltd. (BSE: 526415). OK Play will pay Hofit quarterly royalties based on sales. The agreement is for ten years with an option to extend.
The intellectual property include septic tanks, separators, and other water treatment products, which OK Play will manufacture under license in India and sell in India, Pakistan, Bangladesh, and Sri Lanka.
Hofit opened today at NIS 3.54, giving a market cap of NIS 39.9 million.
Published by Globes [online], Israel business news - www.globes-online.com - on May 31, 2009
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