Plastics spurring kibbutz industry growth

Kibbutz companies were responsible for 57 percent of the country's plastics sales in 2005, research conducted by Business Data Israel revealed Wednesday ahead of the Kibbutz Industry Association's annual conference.

By AVI KRAWITZ
October 19, 2006 07:02
1 minute read.

 
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Kibbutz companies were responsible for 57 percent of the country's plastics sales in 2005, research conducted by Business Data Israel revealed Wednesday ahead of the Kibbutz Industry Association's annual conference. Plastics and rubber companies rank as the five largest among kibbutz companies, and one other ranked in the 12th position, BDI said showing the sector's influence in the movement. Six food and beverage companies were also found in the top 15, which were responsible for 40% of the food industry's total sales last year. One company each from the textile, optical and printing works markets completed BDI's top 15 list. BDI surveyed the 15 companies to give an overview of the kibbutz movement's leading businesses in time for the conference. It also found that salaries at Kibbutz companies over the last three months were on average 8.5% higher than those in the general economy. Other data showed that 27% of the companies, or four out of the 15, are fully owned by the kibbutz. Nine of the companies, or 60%, have publicly traded stock, while the remaining 40% are privately owned, BDI said. Earlier this week, the Kibbutz Industry Association said it expects total sales from its 277 factories to reach NIS 31.5 billion in 2006, representing a rise of 5.3% over last year. Operating profits for the year should grow to NIS 2.4b., KIA said. The KIA conference is scheduled to take place on today at Kibbutz Shefayim and will be addressed by Minister of Industry, Trade and Labor Eli Yishai and Finance Minister Avraham Hirchson.

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