MIDDLE EAST TUBE CO. LTD.

Middle East Tube Company (Metco) was first incorporated in 1951 and is now Israel's largest steel pipe manufacturer. The Company manufactures and markets steel pipes used for water, sewage, oil and gas infrastructures. In addition, it manufactures structural steel pipes (constructions). Most of the pipes are corrosion resistant, thanks to internal lining of cement with various additives, and external coating - chiefly by three-layer extruded polyethylene (Trio). Most of the manufacturing and insulation work on pipes 2" to 80" inch in diameter is performed at the Company's site in Zrifin. Galvanization of pipes and products is performed by hot dip galvanizing process at another Company site, located in Akko. The controlling shareholders in Metco are Gaon Agro Industries Ltd, a member of the Gaon Holdings Group, and Mr. Sami Chamoun. Together they hold approximately 73% of the Company's shares. Metco has been traded on the Tel Aviv Stock Exchange since 1993. Metco's annual sales turnover is over NIS 300 million and it has a staff of around 265 employees at its two production and work sites. Metco expanded its spheres of activity by means of an investment (20%) in Plasim, a company which manufactures and markets plastic pipes made of polyethylene, PVC and polypropylene for water, sewage, electricity and communications infrastructures. In addition, Metco is a joint partner in Via Maris Desalination Ltd, together with Granit Hacarmel, Tahal, Osip and Oceanea. Via Maris Desalination Ltd has just completed the erection of a desalination facility on Palmachim Beach, with an annual capacity of 30 million cubic meters of desalinated water.

Israel

Pipe / Profile Manufacturer

http://www.metco.co.il