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Kibbutz Yizrael to Lose Control of Mitronics After 98% Stock Value Drop

How 2 Israeli newsrooms covered this story — translated into English and compared side by side.

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First reported by Calcalist · 6 hours ago

What happened

Mitronics, a pool cleaning robot company controlled by Kibbutz Yizrael, is negotiating a sale to FIMI after its stock lost 98% of its value since the COVID-19 peak. The company once dominated the global market but faced post-pandemic challenges including excess inventory and competition. Trading was halted pending a material event report, signaling a major ownership change.

01Mitronics shares halted pending a material event report amid ownership transfer talks.
02Kibbutz Yizrael owns 56% of Mitronics, now valued at 187 million shekels.
03Mitronics peaked at 9.1 billion shekels during the COVID-19 pandemic.
04Post-pandemic, excess inventory and cheap Chinese competitors hurt sales and profits.
05Each kibbutz member’s share value dropped from 17 million to 300,000 shekels.
06Mitronics implemented cost-cutting and investment plans to regain market relevance.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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Yishai Davidy