Home Centers opens eleventh store at Yarkon Interchange Central Israel.BNEI-BRAK, Israel--(BUSINESS WIRE)--April 14, 1997-- 43,000 Square Foot Branch at Major Population Junction Home Centers (DIY DIY abbr. do-it-yourself DIY or d.i.y. Brit, Austral & NZ do-it-yourself DIY abbr DIY do it yourself a DIY shop/job. ) Ltd. ("Home Centers") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HOMEF), Israel's leading chain of warehouse-type Home Improvement centers, today announced the opening of its eleventh superstore at the Yarkon Interchange in Petach-Tikva, Israel, a rapidly developing area with a steadily growing population. The new branch, built at a cost of $2.5 million, is situated on Yarkonim Road at the Baptist Village Junction, has 43,000 square feet of sales space on one floor, parking for 400 cars, and will employ a staff of about 120. The center serves the rapidly growing population and development areas of Petach-Tikva, Rosh Ha'aiyan and surrounding areas. This location is in line with Home Centers' strategy of positioning its superstores in rapid growth and increasing population zones, such as its stores in the Rishon Lezion Rishon LeZion (Hebrew: ראשון לציון, lit. first to Zion), is a city on Israel's central coastal plain, south of Tel Aviv. , Or Yhuda and Southern Haifa areas. Aharon Meidan, Home Centers' president and 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. commented, "This opening is in accordance with our previously stated objective of opening three to four new stores in 1997, for a total of 14 by year end. Similarly, we will significantly expand two existing branches and introduce Home Line Centers, our Bed-Bath and Beyond concept store within a store, to four additional Home Center locations. We will also continue to pursue opportunities for expansion beyond Israel." Home Centers (DIY) Ltd. provides a comprehensive selection of core home improvement products including tools, paints, plumbing, faucets and electrical and building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . , as well as housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. , ready-to-assemble furniture Ready-to-assemble (RTA) furniture, also known as "knock-down furniture" or "flat packs", is furniture supplied as a kit of flat parts and fasteners to be assembled, usually by the end user, with simple tools. and kitchen cabinetry, automotive accessories and outdoor goods. Together with the company's leased departments, which offer home electronics, appliances, lighting, carpets, bathroom fixtures, and bedding and linens, customers can purchase most of their home improvement and maintenance needs under one roof. Home Centers currently operates eleven stores, including one "Express"-format store, in Israel. This press release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risks and uncertainties. Actual results could differ materially from those expressed in any forward looking statement made by or on behalf of Home Centers (DIY) Ltd. CONTACT: Home Centers Ltd. Aharon Meidan, 011-972-3-579-9678 or KCS&A Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Joseph A. Mansi/Paul Holm, 212/682-6300, ext. 205/201 |
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