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Scope Metals will buy $40-44m worth of aluminum products

05/12/06

From: Globes, 5 December 2006 
Alona Koren

The company said that the agreement was another milestone in the expansion of the company’s international business.
 
Scope Metals Trading and Technical Services Limited. (TASE: SCOP) announced today (Tuesday) that it has signed an agreement to buy $40-44 million worth of aluminum products from a European foundry. The foundry supplying the goods to Scope Metals has undertaken to deliver semi-finished aluminum products between January 2007 and March 2008.
 
Scope Metals chairman and general manager Shmuel Shiloh said the agreement was another milestone in the expansion of the company’s international business. “Most of the aluminum to be bought is intended for marketing by our subsidiaries in the United States, the Czech Republic, Romania and China. The rest will marketed to the company’s domestic customers in Israel,” he said.
 
He said that the company was investing heavily in continuing the development of its international activity, which constitutes the company’s main growth engine. The company is also continuing to expand its domestic activity.
 
Scope Metals imports and exports products and raw materials for the metals industry, including stainless steel, nickel alloys, aluminum, titanium, steel, brass, bronze and copper, as well as for the plastics engineering industry, including sheets, plates, poles, pipes, screws and other products. The company’s products are used by a wide range of industries, including food, pharmaceuticals, chemicals, quarries, electronics, air conditioning, consumer products infrastructure, high tech, public construction, aviation, military industries, and others.
 
The company is jointly controlled by the Shiloh family and First Israel Mezzanine Investors Ltd., and owns subsidiaries in the United States, the Czech Republic, Romania, and China.