Kimberley-Clark has announced it is forking out $160 million to buy out the Hogla-Kimberley diaper company that already is half-owned by the American-based paper giant.
The purchase price includes a $10 million payment to Hadera paper not to compete in the diaper market for four years.
“The current agreement is in line with the strategy formed by the company to continue with its core businesses, manufacturing and recycling paper from a stronger and healthier position,” said Hadera Paper chairman Yochanan Locker.
He said he is happy the Kimberley-Clark in investing in the Israeli economy.
He did not say that investments from global companies leave Israel more at the whims of foreign companies who are good at squeezing governments for tax breaks under the threat of pulling out and going elsewhere with their business.
It was disclosed earlier this week that Pfizer is considering buying the Israeli-based Teva Pharmaceuticals company, the international leader in generic drugs.
Teva has said it is nor sale.
Time will tell.