Business in Brief

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Bet Shemesh Engines wins $63m contract

Bet Shemesh Engines Holdings inked a $63 million, multiyear agreement to supply Germany’s MTU Aero Engines with fan disks and turbine blades for jet engines, sending its stock price soaring 14.8% on the Tel Aviv Stock Exchange. Bet Shemesh has supplied the German company with spare parts for a variety of jet engines over the past 12 years, with the new deal covering the next five- to-eight-year period. Bet Shemesh, 34% owned by Clal Industries and 25% by CEO Avner Shacham, earned $1 million on $18.3 million in revenues in the first quarter. ‏(Yoram Gabison‏)

Supergas to buy NIS 530m of gas from Tamar

Supergas, an Azrieli Group company, said on Sunday it reached an agreement over the weekend for the supply of natural gas from the Tamar field for an estimated NIS 530 million. The gas, deliveries of which will start in two weeks, will be used to provide its industrial customers with compressed natural gas. Two weeks ago Supergas signed a five-year deal worth NIS 70 million to provide CNG to Tnuva. Three months ago, Supergas ordered eight tanker trucks to carry CNG from Germany’s Xperion at NIS 3 million each and is believed to have an option on 17 more. ‏(Avi Bar-Eli‏)

The platform at the Tamar offshore gas field.Credit: Albatross