Brand Industries, which is expected to merge with Spy Systems, reports that it has received a work order to carry out steel construction work in the amount of NIS 9.4 million.
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The work has begun and it is expected that it will be completed within about 7 months. Brand estimates that the scope of the works may increase by an additional NIS 5-10 million.
Haim Brand, CEO of Brand Industries, stated: “This important transaction reflects for the first time the expected customer synergy in the merger with Spy Systems. Following the merger, the new brand will offer a basket of contracting and industrial solutions in the field of steel and systems based on a wide range of services and products to customers of the two companies, taking advantage of the significant business synergy of the two companies’ operations. These will position the new brand as a leading provider of solutions for complex projects and will help in a consistent increase in the consolidated backlog. ”
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