ISRAEL - ITT Buys Kibbutz Company for $140 Million

Arno Froese

US engineering components manufacturer ITT has announced that it has acquired Israeli valve manufacturer Habonim for $140 million in an all-cash transaction. Habonim, based on Kibbutz Kfar Hanassi in the Upper Galilee, will become part of ITT’s Industrial Process (IP) segment.

Habonim designs and manufactures valves, valve automation for the gas distribution (including LNG), biotech and harsh application service sectors. The company’s highly differentiated business model allows for the commercialization of a majority of its products through distribution while maintaining its end-user relationships. Habonim also sells directly to original equipment manufacturers and integrators for customized solutions. The company has operations in Israel, the US and the Netherlands and has 200 employees.

Habonim CEO Ilan Gilboa added, “Becoming part of ITT is a very important and exciting step for Habonim on our path to grow and expand our global leadership in the highly performing valves and automated-valves markets. The global reach, expertise in the Industrial Process business, and the shared, highly engineered approach to solving problems and creating value for our customers will allow us to move forward much faster and with a greater impact as part of ITT.”

-en.globes.co.il, 5 April 2022

Arno's Commentary

When one follows Israel’s engineering and high-tech industry, the picture becomes clearer each day: there is no end to the ingenuity of Israel’s scientists and engineers. Much more is to come.

Also, we must realize that the kibbutz was based on the original Soviet ideology of kolkhoz. 

The kibbutz was founded in 1948 by a group of British Jewish immigrants, members of the Habonim movement. Named Kibbutz HaBonim at first, the name was later changed to Kfar HaNassi, after Chaim Weizmann, the first President of Israel.

In 2007, Kfar HaNassi had 300 members, many kibbutz-born children, and a large group of residents who live on the premises.

Boris Johnson was a volunteer at the kibbutz in the 1980s.

-en.wikipedia.org/wiki/Kfar_HaNassi, 2 February 2022

We are reminded of Exodus 35:35: “Them hath he filled with wisdom of heart, to work all manner of work, of the engraver, and of the cunning workman, and of the embroiderer, in blue, and in purple, in scarlet, and in fine linen, and of the weaver, even of them that do any work, and of those that devise cunning work.”

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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