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American Israeli Paper Mills Ltd. Sale of Property
Print
Hadera, Israel, 02 January 2007 -- /PRNewswire/ -- American Israeli Paper Mills Ltd. (AMEX:AIP) (AIPM) announced that yesterday an agreement was signed with Arledan Investments Ltd., according to which, the company sold its leasing rights vis-a-vis a plot stretching over approximately three acres in Ramat Hahayal area of Tel Aviv, for an amount of approximately NIS 57 million. The property is rented until January 2013.

The company estimates that as a result of the sale it will recognize, in the fourth quarter of the year 2006, capital profits of approximately NIS 21 million.

Source: American Israeli Paper Mills Ltd.
 
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