The production for a South American country is planned to start during 2014. In response to the announcement Hatehof’s company bonds increased by 1.6% and yield decreased to 5.96%.
Hatehof Industries, controlled by Brand Industries of the Clarity Capital KCPS fund, continues on its road back to profitability after a few unstable years. Hatehof was purchased by KCPS through Brand Industries, as part of an agreement with its creditors two years ago when the company was in temporary financial difficulties. The purchase through Brand Industries, which is a well-known and senior company in the metal industry, has several sister companies among them Hatehof.
During the past two years Hatehof has gained a substantial recovery rate by winning several bids for projects for the Israel Defense Department and Homeland Security Department in the overall sum of 56 million Shekel. On July 2013 the company won a bid for the manufacturing and supply of a new line of fire-fighting for 28 million Shekel, a production and supply that will finish at the end of 2014. During August of 2013 Hatehof won a bid of 60 million Shekel from the Turkish company BMC, producing and supplying aircraft refuelers and armored vehicles.
Due to winning the BMC bid, Hatehof’s revenues for the first 9 months of 2013 were 110 million Shekels, a sharp increase from 64 million Shekels for all of 2012. The net profit increased to 28 million Shekels, in coparison to a 22 miilion shekel lose during 2012.
2014 looks like a monumental year for the company with increasing orders for armored vehicles, firefighting vehicles and other special purpose vehicles and trailers that the company specializes in for both local and international markets. Hatehof’s uniqueness in designing and producing armored vehicles for military, homeland security, law enforcement and peacekeeping is based on the vast experience of its designers, innovators and company management both on and off the battlefield.