Bloomberg News

Africa Industries Gains Most Since October After Agreement

May 29, 2012

Africa Israel Industries Ltd. (AFID) rose the most in more than seven months after the maker and importer of steel coils and ceramic tiles said a unit signed a distribution agreement with a Canadian company.

The shares advanced 3.5 percent, the most since Oct. 18, to 252.50 shekels at the 4:30 p.m. close in Tel Aviv.

The company signed a 400 million-shekel ($103 million) distribution pact with Olympia Tile International Inc., a construction material manufacturer.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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