Israel’s Elscint has consummated the sale of its manufacturing, assembly, engineering and integration operations conducted at its Ma'alot facility to a subsidiary of the Sanmina-SCI Corporation.
Pursuant to the terms of the Asset Purchase and Sale Agreement signed on November 13, 2002, Elscint sold substantially all of the assets comprising the Business and, in addition, transferred substantially all of the liabilities incurred by Elscint with respect to the Business. Elscint will record a capital gain with respect to this transaction.
Elscint is engaged in Hotel development and leisure and investments in bio-technology companies. Elscint has interests in hotels in Western Europe, in hotel development projects, principally in Western and Central Europe, and in the commercial and entertainment center at the Marina in Herzlia, Israel.
In the bio-technology field, Elscint invests in start-up companies, and provides business guidance and professional advice to such companies for the development of business plans, research and development and marketing programs. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
