Bloomberg: Israel Shipyards, controlled by Shlomo Schmeltzer and Shlomi Fogel, has agreed a deal for the sale of three Shaldag (Kingfisher) patrol boats for NIS 80 million. The announcement was made to the Tel Aviv Stock Exchange by Gold Bond Group, which owns 20 per cent of the company.

Gold Bond expects to make a NIS 16 million profit from the deal. Gold Bond ended 2011 with net profit of NIS 26.4 million, 18 per cent less than its profit in 2010 following an erosion of profitability at Israel Shipyards.

The Shaldag patrol boats that will be sold are expected to be delivered to an African country and a deposit has already been paid for them.

Gold Bond first reported the deal last week but did not include any financial details. The share price has since risen 10 per cent on thin trading after falling 20 percent during 2011. Gold Bond has a market cap of NIS 170 million.

Source: Bloomberg