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Elron Group To Sell 3DV Unit

Posted on: Mon, 30 Mar 2009 00:32:00 EDT

Symbols: ELRN

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Mar 30, 2009 (FinancialWire via COMTEX) --
ELRN | Quote | Chart | News | PowerRating -- March 30, 2009 (FinancialWire) -- Elron Electronic Industries Ltd. (NASDAQ: ELRN | Quote | Chart | News | PowerRating) (Current Market Cap: US$70.56 Mil.) said that 3DV Systems Ltd., a company held by Elron and its Rafael Development Corp. Ltd unit, has entered into a definitive agreement for the sale of substantially all of its assets to a third party.

Under the terms deal, Elron expects that it and RDC will get up to around $3 million and $4 million, respectively.

The company said it expects to record a gain of up to around $5 million overall. The transaction is scheduled to close in the second quarter of 2009.

Israel-based Elron Electronic Industries is engaged in the fields of medical devices, information & communications technology, clean technology and semiconductors.

The stock closed at $2.39 on March 27. It has traded between $1.05 and $10.07 over the past 52 weeks.

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Free annual reports for companies mentioned in the news are accessible via http://investrend.ar.wilink.com/?level=279 .

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For full details on Elron Electronic Ind Ltd (ELRN) ELRN. Elron Electronic Ind Ltd (ELRN) has Short Term PowerRatings at TradingMarkets. Details on Elron Electronic Ind Ltd (ELRN) Short Term PowerRatings is available at This Link.

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