Ultimate substitute: 14.11.2024 | 22:04
The Israeli tire manufacturer Alliance is final its doors after 74 years of operation. The CEO of the company an expert the employees in recent years (Thursday) that the mum or dad company, the Eastern Yokohama, has made up our minds not to continue operating the Israeli production unit in Hadera, and that each one personnel can be laid off. The company employs kind of 450 personnel, along with kind of 100 contractor personnel.
Inside the letter sent by way of the CEO of Alliance, Yigal funnel To the employees, he wrote that the closure is available in opposition to the backdrop of rising production and transportation costs, and the structural changes inside the tire industry market global, along with in gentle of the competition inside the industry and the decrease in name for for the Israeli product. The producing task is expected to complete at the end of December. The company basically produces tires for artwork equipment used in agriculture, industry, construction and forestry, and most of its produce is marketed abroad.
Alliance was established in 1950 as a partnership of American investors with the Histadrut Solel Bona company, which wanted to give you the tires for the cars it used.
In 1960, the company was listed on the New York Stock Industry and has changed since then Owned numerous circumstances. Inside the 1980s it was purchased by way of ‘Kor Industries’, and in 1992 by way of Eliezer Fishman and an American partner. In 2007 the company was purchased to the Eastern Yokohama.
Chairman of the Hadera house and the northern coastal simple inside the Histadrut, Yitzhak Yitzhakdiscussed: “This is a unsatisfied and painful day for the 450 Alliance personnel and a hard day for Israeli society. The Histadrut inside the home beneath my control will do everything to be sure that the employees download upper compensation. We will make great efforts to hunt out jobs for all personnel and we will be able to be certain that as much as imaginable to sweeten the bitter and difficult pill that has come forward of them of the producing unit workers”.
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