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Tadiran Telecommunications Sells Its 50% Stake in Eurocom Industries; Sale Results in Even Greater Focus on International Markets.

PETACH TIKVA, Israel--(BUSINESS WIRE)--Sept. 17, 1998--Tadiran Telecommunications Ltd.(NASDAQ:TTELF) ("the Company") announced today that it has signed an agreement to sell its 50% stake in Eurocom Industries (1986) Ltd. ("Eurocom"), an Israeli marketer of office automation equipment and key systems for the local market, to Eurocom Communications Ltd., which holds the remaining 50% of Eurocom's shares. The sale price is approximately equal to the book value at which Eurocom has been carried on Tadiran Telecommunications' financial statements. Eurocom's results represented approximately 6% of the Company's 1997 revenues. The sale is expected to close next week.

Commenting on the announcement, Haim Rosen, President and CEO of Tadiran Telecommunications Ltd., said, "Selling our share in Eurocom, which focuses on distribution to the local Israeli marketplace, is another step in our strategy of sharpening our focus on innovative internally-developed products for international markets, such as the Company's exciting T:DAX cross connect, Wireless Local Loop (WLL), and other products."

Tadiran Telecommunications Ltd. is engaged in the design, manufacture, marketing, and support of a wide range of sophisticated telecommunications solutions and equipment, including: digital cross-connect systems, wireless local loop products, digital pair-gain systems, access multiplexers, business telecommunications systems and data communications. For more information about Tadiran Telecom, please visit our web site at www.tadirantele.com.

Forward looking statements contained in this release may contain forward-looking information with respect to plans, projections of future performance of the Company, the occurrence of which involves certain risks and uncertainties including, but not limited to, product and market acceptance risks, the impact of competitive pricing, product development, commercialization, and technological difficulties and other risks detailed in the Company's filings with the Securities and Exchange Commission.
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Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:7ISRA
Date:Sep 17, 1998
Words:281
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