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Mul-T-Lock talking to buyers
By Yoram Gavison
Tags: Israel

Uri Bahari, CEO and controlling shareholder in Mul-T-Lock (Rav Bariach), is conducting negotiations for the sale of the company with three different organizations. The company is denying that the talks have anything to do with pressure from the banks, to which it owes about NIS 70 million.

Mul-T-Lock confirmed debts of NIS 30 million to Bank Leumi but spokesmen pointed out that the burden is not excessive, given the scope of the company's operations. The First International Bank of Israel (Beinleumi) is another major creditor.

Observers believe that Open Gallery, owned by Masonite International of the U.S., is one of Mul-T-Lock's suitors. Bahari said in response that his company is not in trouble and that the rumors are being spread by one of the three potential buyers in order to drive down the price. He said that in addition to Masonite, a large U.S. firm and a large Israeli company are bidding for his company. Bahari added that the negotiations took a step forward this weekend.
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Mul-T-Lock manufactures security doors with a multiple dead-bolt lock. It controls 45% of the local market, competing against Hosen, Itzik Akavish (Spiderdoors), Rav-Magen, Reshafim Security Doors and Palraz.
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