Electronics Production |
ECI in talks to sell three plans to Flextronics in Israel
ECI Telecom is in discussion to sell its three plants to Flextronics for approximately $270 million, Israel's Yedioth Ahronoth daily reported today.
The plants that Flextronics would buy from ECI Telecom are located in Jerusalem, Ofakim, and Kiryat Shmona. ECI will then commit to buy the factories' products for the next five years.
In late August ECI received from its share holder's approval to be acquired by Swarth and a unit of Ashmore Group Plc for approximately $1.2 billion in cash, reuters reports. ECI officials said they do not comment on deals until they are closed.
