HADERA, Israel (Sept. 4)—A U.S. investors´ group, led by industry veteran Harvey Brodsky, has offered to buy a 51-percent share in Israel´s Alliance Tire Co. (1992) Ltd. for $50 million. The investors, operating as Harvey Brodsky Group L.L.C., have studied Alliance off and on for more than 10 years, Brodsky said, and have negotiated seriously for a stake for the past 18 months. "We view this as a good business opportunity, a long-term investment," Brodsky said. "Alliance has strong R&D and engineering resources, and the plant´s assets are valued at more than $100 million." Alliance Tire makes passenger, light and medium truck, farm, OTR and industrial tires at its 40-year-old plant in Hadera, but the firm is best known outside of Israel for its farm and OTR tires. Alliance Tire reported losses of $6.3 million and $19.6 million in 2001 and 2000, respectively, while generating sales of $96 million last year.
U.S. investors bid for 51% share of Alliance Tire
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