A publicly traded Israeli holdings corporation specializing in water and fluid infrastructure.
The Middle East Tubes Company, a company subsidiary (67.4%), is a major supplier of water tubes to Mekorot (Israel’s national water company), a state owned corporation deeply involved in the Israeli occupation. Mekorot builds and maintains infrastructure on occupied Syrian and Palestinian land, services settlements and supplies water for settlement agriculture. It also exploits occupied Palestinian water resources and the Palestinian captive market.
Mekorot is Middle East Tubes’ largest single customer, accounting for 48.7% of its 2017 sales (and 22.1% of B Gaon Holdings’ 2017 sales). Mekorot purchases most of its 54″ 68” 80” diameter pipes from the company.
Middle East Tubes also provided equipment and services to water infrastructure projects carried out by Mei Golan and Mei Bikat HaYarden, two settlement water cooperatives in the occupied Syrian Golan and the occupied Jordan Valley respectively.
Mei Bikat Hayarden supplies water to agricultural settlements in the occupied Jordan Valley, using primarily waste water from occupied East Jerusalem that are treated in the Nabi Musa water purification plant in the occupied Jordan Valley, as well as water from Tirtsa Reservoir, a settlement water reservoir built on the Palestinian stream of Wadi al-Far’a in the northern occupied West Bank.
Middle East Tubes is supplying the pipes for a project that will carry water from the Jordan River to the settler water reservoir. The pipes are supplied in accordance with a long term contract with the settler cooperative for a price that is below market prices. The company is also providing additional pipeline products.
Mei Golan water cooperative, in collaboration with Mekorot, is building a water line to increase the supply of water from the Sea of Galilee to the occupied Syrian Golan. The line is part of a project to expand private settler agricultural estates in the Golan from 35 to 60 dunams per estate. The pipelines to be used for the project are manufactured by Middle East Tubes.
In February 2016, Middle East Tubes also provided field service to Mei Golan in the occupied Syrian Golan, near the settlement of Afik.
Through its subsidiaries, the company also benefits from access to the Palestinian market as captive market. The Palestinian Authority accounted for 0.4% of Middle East Tubes sales in 2017, 0.2% in 2016 and 3.4% in 2015.
Mei Vered and Hakohav, subsidiaries specializing in valves and water meters, sell to distributors in the occupied Palestinian territory.
Moreover, in Mei Vered’s exclusive distribution agreements with German company Sensus GmbH Hannover and Turkish company Baylan Ӧlҫü Aletleri San. Tic. Ltd. Şti., the company committed to distributing Sensus and Baylan products in the occupied West Bank and Gaza Strip, receiving a commission from Sensus for each sale made.
Additionally, B Gaon Holdings holds an 8.74% stake in Field Produce (Tnuvot Sade U’Mata), which built two packing facilities in the settlements of Yafit and Na’ama in the occupied Jordan Valley.
Another subsidiary, Sagiv Cooperative Society (50%), has a distributor in Katzrin settlement, occupied Syrian Golan.
The company formerly owned shares in Ahava Dead Sea Laboratories, an Israeli cosmetics company located in Mitzpe Shalem settlement in the occupied West Bank. In 2016, it sold its 15.72% stake to Chinese company Fuson.
In December 2017, the Israeli Ministry of Economy and Industry approved a grant of over 20 million NIS to Middle East Tubes Company to build a new factory in the Neot Hovav industrial zone in the Naqab (Negev) region. Neot Hovav, the site of Israel’s main hazardous waste disposal facility, poses a major health and hazardous material risk to the Palestinian Bedouin residents of nearby Wadi Alna’am, forcibly resettled in the area by Israel’s Military Administration in the 1950s.
B Gaon Holdings is publicly traded on the Tel Aviv Stock Exchange under the ticker symbol GAON-M.
The controlling shareholder in B Gaon Holdings is Viola P.E.G.P., which holds a 58.78% stake in the company through Viola A.V. Gaon Limited Partnership. Viola’s ultimate owners are Harel Beit On, Shlomo Dovrat and Avi Zeevi.
The Viola Group is a private Israeli technology investment group with over $2.8 billion worth of assets. Its portfolio includes Aeronautics as well as realized investments in Soda Stream, CyberArk, Arava Power and others.
Other shareholders include: Ainsbury Properties Limited (10.47%), B. Gaon Investments (1998) (8.24%), Uri David (6.55%) and Moshe Gaon Investments (6.18%)
CEO: Guy Regev
B Gaon Holdings holds a 67.38% stake in Gaon Group, a publicly traded Israeli water solutions corporation (TASE:GAGR). Through Gaon Group, the company holds shares in Middle East Tubes – Gilvun (100%), Plassim Infrastructures (71%), Tashtiot Hadarom P.H.S. (in which Plassim holds 85%), Palgal Plastic Industries Cooperative Society (74%), Pogba (100%), Gaon Agro Industries (100%), Hakohav Valves (100%), Madey Vered (100%), Sagiv Cooperative Society (50%), ATC Supply (1993) Co. (49.9%) and Gaon Water Solutions Company (G.W.S.) (100%).
The company also holds an 85% stake in B. Gaon Retail and Trading, through which it holds shares in Hamashbir Holdings (42.2%) and Field Produce (Tnuvot Sade U’Mata) (8.74%).
Other subsidiaries include Aquagro Fund (3.96%) and Gaon Antan Investments (50%).
Clients of the company and its subsidiaries include: the Israeli Ministry of Defense, Israeli municipalities and regional councils, Mekorot (Israel’s national water company), Israel Electric Corporation, Electra, Petroleum and Energy Infrastructures, Israel Natural Gas Lines Company, Solel Boneh (Housing and Construction subsidiary) Tahal, Israel Shipyards (of the SK Group)
Company subsidiaries also have agreements with international corporations Sensus GmbH Hannover (Germany) and Baylan Ӧlҫü Aletleri San. Tic. Ltd. Şti (Turkey).
All the information contained in this page is valid until Fri 01/06/2018
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