Shapir Engineering and Industry stock in focus after NIS 230m gas sale
Published on 10/31/2026 at 00:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGas sale reshapes capital plans
- Shapir expects the transaction to release capital for significant investment in coming years.
- Regulatory approval remains relevant to the company's plan to increase its position in Ashdod Oil Refineries.
- First-half revenue and net income rose sharply, supporting continued investor focus on the infrastructure group.
Shapir Engineering and Industry has agreed to sell its natural gas distribution companies to Allied for 230 million NIS, according to Globes in a report published on Wednesday, October 21, 2026. The agreement covers Super NG and Super NG Hadera & HaAmakim, with completion subject to customary regulatory approvals.
Capital allocation drives the deal
Shapir expects a pre-tax gain of 50 million to 100 million NIS from the transaction. Chief Financial Officer Moshe Zabusky told Globes that the company wanted to free up liquidity ahead of significant investment needs in the coming years.
The sale also affects Shapir's plans for Ashdod Oil Refineries. The company owns a 10% stake and holds options that could allow it to increase its holding to as much as 65%. Selling the gas distribution assets removes one regulatory obstacle, although a recommendation against permitting Shapir to control the refinery remains unresolved.
Earnings support investor attention
Shapir reported first-half 2026 revenue of 3.2 billion NIS and net income of 164 million NIS, increases of 17% and 156%, respectively, as cited by Globes. The figures give investors a reference point for assessing whether asset sales and future capital deployment can sustain the group's earnings profile.
Business spans infrastructure and industry
Shapir operates in Israeli infrastructure, construction and industrial activities, including roads, quarries, concrete, asphalt and cement, while also holding interests linked to residential development and energy assets. Its integrated structure differentiates it from Shikun & Binui, which Globes identifies as Israel's second-largest infrastructure company; Shapir is presented as the larger of the two infrastructure groups in that comparison.
The TA-35 provides the relevant market backdrop for Israeli equities; see current TA-35 market coverage.
Further company developments can be followed through more news and analyses on Shapir Engineering and Industry stock.
