Electra Consumers will sell to an unknown customer heating systems for NIS 300 million

Electra Consumers is trying to become a heavyweight player in the field of heating system development in Europe. The company announced on Tuesday that it has signed a strategic agreement, under which the customer pledged to purchase heating systems from the company for NIS 300 million over the next five years. The customer also committed to investing 2.4 million euros in developing additional lines.
Electra Consumer CEO Zvika Schwimmer declined to disclose the customer's name: "It is in the customer's best interest not to disclose the sources of production. We pledged to work exclusively with him for the next five years. This is a leading European company that has chosen us to lead the development of heating system products in the coming decade. This is a growing field, following European regulation and regulation, which requires efficient energy use in any building. The systems installed in each home provide sanitary water and underfloor heating, which are essential in cold northern European countries. "
You won't see the money for Electra in the coming year. "Our expectation is that in three to five years we will sell a lot more heating systems than refrigeration systems. The fact that two large European customers will be developing their products for us indicates that we are leading the systems development," said Schwimmer.