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Fridenson ended its TASE IPO raising NIS 72 million

Fridenson is a brand name in the local Israeli market and among the relevant business community world wide and is managed by brothers Rami and David Fridenson
12.03.07 / 00:00
Fridenson ended its TASE IPO raising NIS 72 million
12.03.07
Fridenson ended its TASE IPO raising NIS 72 million

Fridenson is a brand name in the local Israeli market and among the relevant business community world wide and is managed by brothers Rami and David Fridenson
 
Logistics and freight company Fridenson Logistics Services, managed by brothers Rami and David Fridenson, raised last week NIS 72 million at the Tel Aviv Stock Exchange (TASE).
 
The Fridenson Group was established 40 years ago and is engaged since then in Logistic Services, Transport and various Industrial activities.

Fridenson is a brand name in the local Israeli market and among the relevant business community world wide. Since February 2006 the company operates "Euro Fr" offering transportation of refrigerated and dry cargo between Israel and Europe. The service aims to compete high air freight rates and slow sea freight transit time.
 
The company reported gross profit of NIS16 million for the third quarter of 2006. Profit level was strongly influenced by the Second Lebanon War in July August 2006. The company has reported an average annual growth rate of 25% since 2002.

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