Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) is consolidating two of its communications systems sites in northern Israel as part of streamlining measures. The company will close its plant in Kiryat Shmona and transfer its operations to the large site at the Tel Hai industrial park nearby. The company employs twenty people at its Kiryat Shmona plant, of which at least eight will be fired, and the rest transferred to Tel Hai, sources tell "Globes".
Elbit Systems has 200 employees at its Tel Hai plant, which develops and produces communications systems. The company has invested heavily in the plant in the past few years, turning it into a state-of-the-art facility.
A source close to the matter told "Globes" today, "There is no logic in keeping two sites in the same business so close to each other. When streamlining, you have to consider such consolidations."
Elbit Systems confirmed the report, saying, "Elbit Systems is merging its operations in Kiryat Shmona with its operations in Tel Hai, most of whose employees live in Kiryat Shmona. Elbit System is one of the biggest employers in the north, with more than 1,600 employees at its sites in the region."
Published by Globes [online], Israel business news - www.globes-online.com - on January 10, 2013
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