Bet Shemesh Engines Ltd.was founded on 12 May 1968 as a joint venture by Turbomeca, a French company under the ownership of Mr. Joseph Szydlowsky and the State of Israel. From its foundation until 1997, BSEL’s main activity was in manufacture, design, research and development, overhaul, repair, assembly, upgrade and testing of turbo engines for jet engines and land based power turbines.
Until 1981, Mr. Szydlowsky held the majority of BSEL’s shares.
The State of Israel bought all the shares previously owned by Mr. Szydlowsky and BSEL became a state owned company until 1992.
Thames Holding, a subsidiary of UTC/PW bought 40% of BSEL’s shares from the State of Israel, which they in turn sold to Ormat in 1995.
60% of BSEL's shares were bought by Ormat Industries Ltd.
UTC/PW sold its 40% share in BSEL to Ormat, making Ormat the owner of BSEL (99.997%).
BSEL was 99.997% owned by Bet Shemesh Holdings (1997) Ltd. and is traded on the Tel Aviv Stock Exchange.
Since November 1997, the company’s main activities are the manufacture of parts for jet engines for the main engine manufacturers, reconditioning of jet engines for the Israel Air Force and other air forces, as well as civilian helicopter operators. The company also develops, manufactures and tests a series of small jet engines, from 150 lbs.
BSEL has become a partner with MTU (through Risk Revenue) in the production of the PWC 307 engine that powers the Falcon 7A .
The company’s main shareholder is Clal Industries Ltd.
The company’s main shareholder is FIMI Opportunity Funds.