AFCON ELECTRO MECHANICS LTD.

AFCON ELECTRO MECHANICS LTD.

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Company Overview
The company is a publicly quoted firm which is engaged in the design, manufacture, and sale of electro-mechanical (EM) and control systems. Its shares are traded on the Tel Aviv Stock Exchange (TASE) under the ticker symbol of AFEM. It was incorporated in 1993 and has its registered business address located in Petach-Tikva, Israel.
The company primarily produces medium voltage (MV) metal clad switchgears, low voltage distribution panels, motor control centers, control and instrumentation’s panels, MV circuit breakers, MV insulated ring main units, MV gas insulated switchgear, MV pole mounted load switches, and MV overhead line load switches and disconnectors air insulated. It also undertakes contracted work, including gas turbine and diesel generator installations, overhead power transmission and distribution lines, and instrumentation and piping installations as well as associated control, communication, mechanical, and civil works.
The company is a subsidiary of Afcon Industries Group, one of the largest and leading industrial enterprises in Israel.
Business Summary
The Company is an Israeli-based company active in the design, manufacture, integration and sale of electromechanical and control systems.
Description and history
The Company is an Israeli-based company active in the design, manufacture, integration and sale of electromechanical and control systems. The Company undertakes contracted work, such as gas turbine and diesel generator installations, overhead power transmission and distribution lines, and instrumentation and piping installations, and also manufactures custom made and standard products, including switchgears, motor control centers, circuit breakers and control and instrumentation panels. The Company operates in the Czech Republic in the low-voltage sector and in the Caribbean Islands.

History

2009 – The company won the tender for electro-mechanical jobs worth 69 million NIS.
2008 – Contract in Bulgaria, 28/3 million EUR
2007 – Agreement to sell 50% of a Romanian subsidiary
2007 – Won a 22.7 Million EUR contract in Romania (through Romanian subsidiary)
2007 – Dispute with Employees over employement conditions
2006 – The Company won three contracts: 5.5, 7.3, 12.5 Million USD contracts
2003 – The Company won 3 contracts with the Israeli Electricity Company
2003 – The Company won a 11 Million USD contract with Schneider
2002 – The Company won a 49 Million NIS contract with the Israeli Electricity Company
1998 – IPO at TASE
1995 – Started activity
1993 – Incorporation under Israeli law

Business Line
Design, manufacture, and sale of electro-mechanical (EM) and control systems
Subsidiary

Advisor
KOST FORER GABBAY & KASIERER
IPO date
5/12/1998
US SIC Code
4931
Company Address
4, Hatavor Lane, Segula Industrial Zone

City province or state postal code
49691, PETACH-TIKVA
Phone: +972 3 9392 300
Fax: +972 3 9244 248
Country address: ISRAEL
Website url: www.afcon-ind.co.il