(OTC: LPST)

Industry: Electrical Components & Equipment
On the web: n/a
Employees: 70

Lapis Technologies, Inc. was formed in Delaware on January 31, 2002 under the name Enertec Electronics, Inc. The Company has filed two Certificates of Amendment changing their name to Opal Technologies, Inc. and then to Lapis Technologies, Inc. Lapis Technologies conducts operations in Israel through their wholly owned subsidiary, Enertec Electronics Limited, an Israeli corporation formed on December 31, 1991, and Enertec Systems 2001 LTD, an Israeli corporation formed on August 28, 2001, of which they own a 55% equity interest. The Company is a manufacturer and distributor of electronic components and products relating to power supplies; converters and related power conversion products; automatic test equipment; simulators and various military and airborne systems. The Company maintains two divisions, the Systems Division and the Electronics Division. The Systems Division designs, develops and manufactures test systems for electronics manufacturers in accordance with their specifications. The Electronics Division markets and distributes the test systems, power supplies and other electronic components manufactured by them, and by other manufacturers, who engage them to distribute their products. In April 2002, the Company acquired all of the outstanding capital stock of Enertec Electronics, making it their wholly owned subsidiary. Research and Development costs of the Company totaled approximately $100,000 and $226,000 for the twelve months ended December 31, 2003 and 2002 respectively for both periods.