Tnuva Food Industries Ltd. has inaugurated a logistics center in Eilat after investing NIS 35 million in the new facility. The most advanced systems have been installed in the center, which will serve the Eilat and Arava region.
The new center will be named for Yuval Stern who managed Tnuva's construction and environment department for 27 years and recently died. The center covers 2.5 acres and has various temperature controlled areas to store, collect, and distribute the company's products throughout the region.
Tnuva CEO Eyal Malis described the opening of the Eilat logistics center as "a major milestone," and added that, "the new center would be a home for the Eilat branch's dedicated employees and an example of advanced technology that will strengthen the cherished connection between Tnuva and Israeli homes."
Swiss consulting firm TASC recently reported that Tnuva's company value has fallen by 40% since its Chinese owner Bright Food took a loan 18 months ago to buy control of Tnuva. The company is reportedly worth NIS 4.5-5 billion today after being acquired for NIS 8.6 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on December 5, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016