Kibbutz Neot Mordechai  has sold the balance of its shares in Teva Naot

Most of the shares of the shoe factory were sold in 2006. Now the kibbutz has completed the sale of the remaining shares at a value of 300 million shekels. The shares were sold to the company's largest distributor in the U.S.A. The exit will provide a substantial profit for the members of the kibbutz.

Teva Neot  generates sales of nearly 300 million shekels per year, 75 % of the sales are made  abroad, especially in the U.S., but also in Germany , Australia and Canada . The company owns sixty branded stores and there are numerous points of sale not owned by the company.

Kibbutz Givat Oz and a group of investors have sold Arromor  to the American company IFF, which is one of the leading producers of flavors in the world . The deal is worth approximately $ 88 million and the money has been divided between the investors and the members of the Kibbutz.

Annual sales of IFF are about $ 3 billion and Arromor is one of its suppliers . The operations of Arromor Israel will be retained for at least 15 years.

Arromor was established in the early 80s, and financial difficulties caused the company to search for outside investors. The company is engaged in the production of cleaning products and cosmetics.

Kibbutz Industries Association Leonardo Da-Vinci 13, Tel-Aviv 61400, Tel: 03-6955413, Fax: 03-6951464, E-Mail: