Technoplast Industries Ltd., an Israeli custom injection molder, plans to invest in the Palkar Kfar Rupin extrusion plant to supply local and foreign customers.
The Barkan-based injection molder aims to take a 50 percent share in the US$10 million Palkar plant at Kibbutz Kfar Rupin in Israel's Jordan Valley region. Its present owner, the Kfar Rupin collective farm community, will retain 50 percent ownership, said Technoplast General Manager Yosef Shiran.
Palkar operates eight extrusion lines making PVC fences and educational games. Technoplast already injection molds plastic polypropylene parts for the Palkar games, according to Shiran.
The partnership is designed to help Palkar expand and develop new export markets.
``We believe with assistance from Technoplast, Palkar will be able to break into many new markets,'' Shiran said.
He said the association, due to be cemented early next year, also will help Technoplast to extend into new fields and it hopes later to establish a new plant through the venture at the kibbutz.
Technoplast is in the midst of a $10 million expansion program to expand capacity by 50 percent by early 1999. It now has 53 injection molding presses, including three new Sandretto machines, one with 1,100 tons of clamping force.
By the end of this month, it will install a 900-ton Husky press for an undisclosed new project.
Technoplast, molds do-it-yourself hardware products, electrical and telecommunications components and packaging. The company is a major supplier to Zag Industries Ltd. of Rosh Ha'Ayin, Israel. Stanley Works of New Britain, Conn., bought 90 percent of Zag on Aug. 6, including a 15.2 percent stake that Technoplast had owned.
Technoplast has three injection plants in Israel in Barkan, Ramat Gan near Tel Aviv and Migdal Ha'emeq near Galilee. It expects to expand its work for Zag and Stanley Works.
Technoplast is following a strategy of investing in a number of customers while inking long-term parts supply agreements with them. Its shares are listed on the London Stock Exchange.
One such agreement involves Friendly Machines Ltd., a developer and manufacturer of robotic household and outdoor appliances, including a golf cart and vacuum cleaner.
Its first product, Robomow, a self-guided lawn mower, is undergoing tests in Israel and Europe, and it is due to be marketed shortly.