Nortel Networks and Koor Industries will reorganize their joint telecommunications activities in Israel. Under this reorganization, Nortel Networks will assume full ownership of Nortel Networks Israel (Sales and Marketing) Ltd., its joint venture with Koor Industries, by acquiring the remaining 28% ownership interest currently held directly and indirectly by Koor Industries. Nortel Networks Israel (Sales and Marketing) Ltd. is responsible for sales, marketing and support of Nortel Networks products in the Israeli market. The companies will continue to work together through research and development and commercial agreements in Israel, mainly with Telrad Networks, a Koor Industries subsidiary.
Koor Industries Ltd. is one of Israel’s largest investment holding companies, with holdings in ECI Telecom and wholly-owned Telrad Networks, as well as companies in other sectors.
