IT integrator Ness Technologies Ltd. (Nasdaq: NSTC; TASE: NSTC) has won a $2 million contract to install an Oracle E-Business Suite with Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) subsidiary Teva Czech Industries sro. The project begins immediately and is scheduled for completion on January 1, 2011.
Ness will also support Teva's strategy throughout Central Europe. The company has deployed and operated similar solutions for other companies in their sectors, such as Vitkovice and Dalkia Czech Republic.
Ness Czech CEO Mirko Kalous said, "Winning this important project confirms our dominant position as a provider of Oracle E-Business Suite implementation services in the Czech Republic. This is one of the most important projects of this type."
Teva Czech CEO Jiri Urbanec said, "Our company is strongly export focused, exporting over 80% of our production, including to the highly complex markets in the US and Western Europe. Thanks to the launch of a new plant for solid pharmaceutical drugs this year, we expect that our exports will increase more than three times." He added that the new system will support the production of four billion tablets a year and connect the company with Teva offices elsewhere in Europe and with its headquarters in Israel.
Ness' share rose 2.1% to $7.19 at the opening on Nasdaq today, giving a market cap of $268 million. The share rose 2.1% on the TASE today to NIS 27.28.
Published by Globes [online], Israel business news - www.globes-online.com - on April 26, 2010
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