RAMAT HASHARON, Israel (Jan. 10) — Israeli used machinery dealer Pelmar Engineering Ltd. is looking to expand its business into Europe and North America and is considering an acquisition in Ohio to speed up the process in the U.S.
Pelmar, which buys, refurbishes and sells used rubber and plastics processing equipment globally, said it expects sales to exceed $40 million this year — its 40th year in business — up about 13 percent over 2005, which in turn was up 20 percent over 2004, according to managing director Jacob Peled.
The company, which already operates warehouses in Italy, Germany and Great Britain, has decided to open two new subsidiaries in Europe and is looking to buy a company in Ohio to act as a third subsidiary. Peled declined to name any target, but indicated negotiations are under way.
Peled also said Pelmar is bringing in a new generation to manage the company.
Peter Riess, formally Director of Dunloplan GmbH in Hanau, Germany, has been named managing director of Pelmar Engineering GmbH in Germany, while the managing director of Pelmar Italiana S.p.A. will be announced in February.
As a precursor to these expansion plans, four sons and daughters of existing management have joined the company: Hagai Peled (son of Jacob Peled); Tal Dekel (son of technical director Dan Dekel); Tomer Margalit (son of Tuvia Margalit, head of the firm´s industrial section); and Nurit Avram (daughter of Iancu Avram, general manager of TGL S.P. Industries Ltd., Pelmar´s rubber product manufacturing affiliate).