Complex sentence: In 2004, Pompea SpA and NILIT signed a joint venture (named P.N.F Ltd) and, in 2006, initiated together a new POY production line located in NILIT's Israeli manufacturing facility.
Split into simpler sentences: In 2004, Pompea SpA and NILIT signed a joint venture (named P.N.F Ltd). In 2006, they together initiated a new POY production line located in NILIT's Israeli manufacturing facility.