Bloomberg News

Africa Industries Gains Most in a Month on Distribution Deal

May 29, 2012

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

Africa shares advanced 3.5 percent, the most since April 10 in intraday trade, to 252.50 shekels at 11:41 a.m. in Tel Aviv.

The company said its Negev Ceramics Ltd. unit signed a 400 million-shekel ($103.3 million) distribution pact with Olympia Tile International Inc., a construction materials 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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