Defense Industries International Acquires Operations Of Chemoplast Industries; Acquisition a Milestone in Achieving Long-Term Growth
12/23/2005 12:56:01 PM
ASHKELON, Israel, Dec 23, 2005 (BUSINESS WIRE) -- Defense Industries International, Inc. (DFNS), a leading manufacturer and global provider of personal military and civilian protective equipment and supplies, today announced that it has acquired the operations of Chemoplast Industries (1994) Ltd. Chemoplast Industries is a leading Israeli provider of dry storage systems. According to the purchase agreement dated December 20, 2005, Defense Industries acquired Chemoplast Industries' machinery, systems, inventory, name and goodwill. Defense Industries plans to leverage the synergy between Chemoplast Industries and its subsidiary, Achidatex, which is engaged in the production of long term storage systems, to enhance its offerings in its target markets and to increase its market share.
Chemoplast Industries is a producer of high quality plastic products. For over forty years, Chemoplast Industries has introduced a diversified product range, innovative production processes and technologies. It acquired international know-how and expanded its manufacturing capabilities, becoming one of Israel's industry leaders in the field of sheet plastic and laminate fabrication production. Chemoplast Industries currently specializes in the production of controlled dry storage systems for tanks, armored personnel carriers and other military vehicles and of equipment that require battlefield readiness and quick deployment such as collapsible liquid storage tanks, mobile silos for storage of grains, liners for tanks shipping systems, custom-made covers for artillery, vehicles, communication equipment, tarpaulins, various technical products and special-purpose defense items.
"This acquisition, is another major milestone in our long-term growth strategy," said Joseph Fostbinder, CEO of Defense Industries "Chemoplast Industries' operations and expertise in dry storage systems will enable us to increase our market share, enhance our offerings to our target markets, improve our financial position and will provide us with a platform for future growth."
"With the expected reduction in size of the Israeli military forces, we believe that the demand for dry storage systems, a field-proven solution for quick deployment and battle-field readiness will increase. As a result of the acquisition of the operations of Chemoplast Industries, we are positioned to take advantage and capitalize upon this trend. We believe that the combined expertise and the synergy between our company and Chemoplast Industries will enable us to offer the best solutions for the benefit of all customers."
About Defense Industries International, Inc.
Defense Industries International, Inc. is a leading manufacturer and global provider of personal military and civilian protective equipment and supplies. Defense Industries' main products include body armor, bomb disposal suits and bullet-resistant vests and jackets; ballistic wall covers, helmets, plates and one-way protective windows; personal military equipment, battle pouch units and combat harness units; dry storage units, liquid logistics, tents and vehicle covers; winter suits, sleeping bags and backpacks. The Company's manufacturing facilities meet American EQNET and international ISO 9001 standards. Main customers include the Israel Defense Forces, the North Atlantic Treaty Organization (NATO), the United Nations Peacekeeping Forces and other U.N. organizations. The Company has two main subsidiaries Export Erez Ltd. and Achidatex Nazareth Elite (1977) Ltd. For additional information, please visit the Company's web site at www.defense-industries.com
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