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Scope enters America

 

From: Ma'ariv - 16 December 2005

Scope enters America with purchase of metal company and its inventory for USD 12 million.

Scope, a metal trading company which has been working mainly in Israel, has taken the first steps to entering the American market with the purchase of an American metal trading company. Scope will pay USD 3 million for the company’s business activities and additional USD 7-9 million for the existing inventory. The American company has three distribution centers in the United States. Scope intends to rent them for an additional two years. The business transaction will be finalized by the end of January 2006.

This is the second foreign acquisition that Scope has made in the past year, as part of expanding its activities abroad. Last March Scope bought the Czech company Primapol for 895,000 Euros. Primapol trades in stainless steel and has an annual turnover of 3.8 million Euros. With the purchase, its name was changed to Primapol-Metal-Spot.

According to the latest financial report published by Scope, export sales were 15.5% of the Company’s activities for the first nine months of 2005. Overall Company sales reached NIS 446.3 million at that juncture, an increase of 24% from the same period last year.