Aryt Industries Ltd. Has Completed its Acquisition of Control over Pionet.Business Editors OR YEHUDA Or Yehuda (אור יהודה) is a city in the Tel Aviv District in Israel. According to the Israel Central Bureau of Statistics (CBS), at the end of 2004 the city had a total population of 30,100. , Israel--(BUSINESS WIRE)--Jan. 22, 2002 Aryt Industries Ltd. has announced that it has completed its acquisition of control of Pionet Venture Capital Investments ("Pionet"). Aryt has invested approximately US$ 1,000,000, granting it 52% of Pionet's issued share capital. Investment in Pionet serves as an acquisition of a "shell company" and is part of Aryt's reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. to merge the activities of its medical division, which includes ElscinTEC and Sygmed Ltd., into the acquired "shell company". Sammy Bachar, Aryt Industries CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , states that the transfer of the medical division operations to the shell company is compatible with the company's operational plans and strategy, and similar to the step it adopted with the transfer of the defense division operations to Aryt Systems Ltd., which is also traded on the Tel-Aviv Stock Exchange. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bachar, Aryt is currently in the middle of basing the activities of its various divisions and expanding its product basket. About Aryt Industries Ltd. Aryt is a managing holding company which is engaged through its divisions in the following activities: Medical Division: Includes ElscinTEC Systems Ltd. (50%) and Sygmed Ltd. (28%) Defense Division: Includes Aryt System Ltd. (89%) -- a publicly owned Publicly owned can refer to:
Technological Division: Includes Sensotech Ltd. (53%), OfficeCore.com Ltd. (45%), Voice Diary Ltd. (66%) and Sky Dart dart see blow dart. dart gun see blow dart. Ltd. (51%) |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion