Elbit studies corporate spin-off plan
Elbit announced Dec. 7 that its board of directors in Haifa hasinstructed management to explore the possibility of spinning offits healthcare, defense and commercial business interests intoseparately run companies. Under the proposal, Elscint and the
Elbit announced Dec. 7 that its board of directors in Haifa hasinstructed management to explore the possibility of spinning offits healthcare, defense and commercial business interests intoseparately run companies.
Under the proposal, Elscint and the ultrasound assets of Diasonicsin Santa Clara, CA, Vingmed Sound A/S of Norway and Sonotron HoldingAG of Switzerland would be merged into a single company. In combination,these businesses are expected to produce more than $500 millionin sales in 1995.
In a separate development, Elbit took a step toward consolidatingits ultrasound operations in November by purchasing the ultrasound-relatedassets of Elscintec, a manufacturing and R&D group owned byElscint, a subsidiary of Elbit. The deal is worth at least $14million, according to Elbit.