18 May 2006
Ramat Hasharon, Israel - Pelmar Engineering says it generated total group sales exceeding US$31 million (€24.2 million) with pre-tax profit margin of 12 percent.
Based on the results of the first quarter of 2006, total sales for this year will increase by approximately 11 percent. However, costs associated with the company's expansion will eat into the overall profit.
Pelmar's UK subsidiary, has completed the purchase of the remaining equipment at Goodyear's agricultural tyre plant in Wolverhampton as well as part of the equipment at the Conti's Test Center, which closed in Akron, Ohio.
Pelmar has recently acquired control of Dolm Ltd., one of Israel's leading suppliers of conveying systems and parts. Through this move, the Pelmar team hopes to increase the domestic side of Pelmar's activities. International business currently accounts for some 80 Pelmar's revenues.
Pelmar Engineering Ltd. is one of the largest suppliers and distributors of equipment, engineering and tooling to the tyre and rubber industry, with headquarters in Ramat HaSharon, Israel.
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Website of pelmar Engineering
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