Our story begins in 1951 when the company was incorporated and registered as a private company in Israel. In 1959 we were issued in the stock market in Tel Aviv and the AMEX market in New York. That made us the first Israeli company whose stocks were issued in New York. Today, Fimi Funds is the controlling shareholder with 59% of the issued capital and voting rights in the company.
We are a company of packaging products, paper, and recycling engaging in three main activity sectors via subsidiaries in the group:
There is a significant integration between these three activity sectors by being three links of one value chain.
We see ourselves as pioneers in applying the circular economy approach. We work hard on improving the quality of the products we sell to our end clients and adjusting them to their needs, increasing product diversity and streamlining the manufacturing process, and improving the integration between our fields of work. The business focus in the circular economy model helps us to meet the increasing demand in the recycled cardboard-based packaging market while realizing the potential in the value chain.
Our activity serves the end client twice: once when we collect the cardboard and paper waste for recycling and again when we turn the cardboard and paper waste into cardboard packages used by that same client.
Our group’s activity is the biggest of its kind in Israel, and it is a source of employment to about 1500 workers and hundreds of providers, contractors, and sub-contractors.
The group has several subsidiaries working together and separately to realize the business potential:
We set up an advanced array to deal with wastewater that is created as part of the manufacturing process. After being treated, a quarter of the sewage water is returned to the manufacturing process. We are diligent about maximizing returning sewage water to the manufacturing processes as an alternative to freshwater. Additionally, two private power plants operate in the area of the mill in Hadera to create electricity. One power plant, from which we take half of the electricity required for the paper mill’s activity, works on natural gas and another, smaller power plant, is based on biogas as a main source of energy and from it, we take the other half. This station uses exudes created in the sewage treatment process to produce electricity.