(photo credit: REUTERS)
Tambour Ltd. recently completed its acquisition of full ownership rights in Geves Gesher Ltd. from its original owner, Kibbutz Gesher.
In 2006, Tambour obtained control of Geves Gesher with a purchase of 51% of the company’s shares for NIS 2.4 million. With its latest additional investment of NIS 16.5 million, Tambour now has full ownership of the company.
Geves Gesher Ltd. manufactures and markets plaster and finishing products for the construction field. The factory, located in Kibbutz Gesher, was established in 1950, and employs about 25 people. Tambour’s plaster products, manufactured by Geves Gesher, are among the best-selling plaster products in Israel, and are used at numerous construction sites across Israel. Since Tambour’s initial purchase, Geves Gesher’s activity has grown by more than 400%, and the company has transitioned from net loss to sound profitability.
Tambour’s latest moves with Geves Gesher come at the same time as Tambour’s recent announcement of its acquisition of the Italian paint company Zegati, which specializes in manufacturing paint for the industrial field.
“Tambour’s vision is to create a firm basis for its mobility in Israel in the fields of paint, plaster, and construction materials, as well as to extend the company’s activity outside of Israel,” said Micha Scharir, Tambour Group’s CEO. “We are happy to announce the completion of the Gesher factory acquisition, which enhances Tambour’s broad portfolio in the field of construction materials, taking yet another step in the process of establishing Tambour as a leader in the Israeli construction field.”
Since June 2014, Tambour Ltd. has been part of Kusto, a Singaporean holding company operating in the fields of construction, infrastructure, and energy, and owned by Yerkin Tatishev.
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