FMS will report a pretax capital gain of NIS 47 million on the sale.
FMS Enterprises Migun Ltd. (TASE: FBRT) has sold its Swiss subsidiary for €15 million. The company was sold cash and debt-free. FMS will report a pretax capital gain of NIS 47 million on the sale for the first quarter of 2007.
The Swiss subsidiary manufactures polyethylene film used for armor and undersea cables. The factory only recently resumed operations, so the sale will not affect FMS’s sales or profits. FMS undertook not to produce polyethylene film for five years.
Published by Globes [online], Israel business news - www.globes.co.il - on March 15, 2007
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