Israeli Retreading Firm Expands into Europe

Israeli manufacturer of retreading materials and other rubber products, Ein Shemer Rubber Industries, has announced its acquisition of a cooperative partner based in Bosnia-Herzegovina, Fagum, and has stated that by April the two partners intend to establish a joint venture company, to be known as “Ein Shemer Europe.”

Fagum is based in the town of Zvornik, in the northeast of Bosnia-Herzegovina, and already possesses the technology to produce rubber products. Director of Ein Shemer, Natan Vilner, said that by April a considerable sum of money will have been invested in Fagum and 100 new jobs created. Ein Shemer currently employs 170 people and has an annual turnover of approximately ten million euros.