Israel Business Today back issues from May 1993:
California dreamin'. (California - Israel Exchange)
May 07, 1993; ... For generations, America advised her young and enterprising to go West -- to the pioneering State of California. This week, that State headed East, as more than 130 members of the California- Israel Exchange, including six high level government members, came to Israel on the largest and ...
Model farm in Morocco. (Israel builds a model farm in Morocco)
May 07, 1993 ... Israel recently has completed setting up a model farm in Morocco, funded by the U.S. government's Agency for International Development. The farm, established at a cost of $5 million, covers 15 acres and is located in the Casablanca region. It grows potatoes, peppers, tomatoes, desert ...
Bronfman may buy bank. (Charles Bronfman, Claridge Israel Group may acquire a major Israeli bank)
May 07, 1993 ... Israel is one of the best countries in the world in which to do business, said well-known Canadian businessman Charles Bronfman. He was speaking at a meeting with economic experts. Through the Claridge Israel Group, Bronfman himself has invested in many Israeli companies, including Osem ...
Belmon scent to Russia. (deodorant marketing contract with Russian trading company)
May 07, 1993 ... Belmon Ltd has signed an agreement with a Russian trading company to supply men's and women's deodorants. The deal is worth $372,000. Ephraim Apter, president of Belmon, said the first consignment had already been shipped. In January, Belmon sent deodorants, perfumes and gift packages ...
BIRD feeds on Telrad. (Telrad Telecommunication and Electronic Industries Ltd. pays 1 million New Israeli Shekels royalty to Israel-United States Binational Industrial Research and Development Foundation)
May 07, 1993 ... Telrad Telecommunication & Electronic Industries Ltd has paid a royalty check totaling about NIS 1 million to the BIRD (Israel-United States Binational Industrial Research and Development) Foundation. The check was for sales of Telrad's digital switching system, developed along with its ...
CIA deal in the cards. (Pitkit Printing Enterprises Ltd. arranging identification card contract with the Central Intelligence Agency)
May 07, 1993 ... Gideon Fishman, managing director of Tel Aviv based Pitkit Printing Enterprises Ltd, is negotiating with the CIA to manufacture special ID cards which the CIA plans to use for functions attended by President Bill Clinton. The cards will have a special computerized code in invisible ink to ...
Taiwan sets up shop. (opens trade office in Tel Aviv, Israel)
May 07, 1993 ... Taiwan, for the first time, will open a commercial trade office in Tel Aviv, staffed by diplomats from its foreign ministry. The heads of the Taiwanese delegation have already arrived in Israel. Among its various activities, the office will issue visas to Israelis who wish to visit Taipei ....
Leading U.S. firms open subsidiaries. (in Israel)
May 07, 1993 ... Israel's reputation as a magnet for U.S. high-tech firms has received a significant boost -- executives of Massachusetts- based firms Teradyne, Inc., the EMC Corporation and Windata Inc. have announced plans to establish R&D subsidiaries in Israel. Alexander V. d'Arbeloff, Chairman of ...
Bigger bite for Sara Lee. (plans to increase investment in Delta Galil Industries Ltd. to 41%)
May 07, 1993 ... The U.S. Sara Lee company plans to increase its holdings in Delta Galil Industries Ltd by exercising its warrants. The U.S. company is to pay $23.2 million, which will be invested in Delta, in return for 16.9 percent of Delta's common stock. Sara Lee will then hold 41 percent of Delta's ...
Elite profits increase. (Elite Industries Ltd.)
May 07, 1993 ... According to Elite Industries Ltd's financial reports, the company earned a net profit of NIS 35.4 million in 1992 -- a 400 percent increase over 1992 profits of NIS 9.2 million. Sales for 1992 totaled NIS 824.8 million. In a departure from the past, for the first time the report includes ...
Telegraph hits the wire. (Telegraph newspaper)
May 07, 1993 ... The economic paper Telegraph is scheduled to hit the newsstands in the middle of May, according to Chief Editor Matti Golan. Locating subscribers for the evening paper will begin with the start of publication, says Golan, who believes many people will be buying two economic evening ...
Ginegar improves greenhouses. (Ginegar Plastics develops Diffused Sun Selector thermal sheeting for greenhouses)
May 07, 1993 ... Ginegar Plastics, of Kibbutz Ginegar, has developed two new types of thermal sheets to improve greenhouse-product yield. The new tri-layered Sun-Selector thermal sheets can lead to a 20 percent rise in greenhouse-product yield. The two thermal sheets are known as the Diffused ...
Gentler crop sprayer. (Raz Y.S. Brothers Ltd. develops 'Galraz' crop sprayer)
May 07, 1993 ... Raz Y.S. Bros Ltd has developed a new crop sprayer designed to solve the ecological problems involved in the overuse of toxic pesticides. The "Galraz", shown for the first time at Tel Aviv's AGRITECH 93 exhibition on May 2 through 6, is designed to spray the plant with an even covering of ...
S. African chicken coming. (Nandos to open first chicken restaurant in Herzliyya, Israel)
May 07, 1993 ... The South African fast food chain Nandos is to open its first branch in Israel within the next two months. The Israeli outlet will sell grilled chicken products in its restaurant and also will operate a home-delivery service. It will be located in Neve Amirim in Herzliya. Further branches ...
TASE stiffens entry rules. (Tel Aviv Stock Exchange)
May 07, 1993 ... The Tel Aviv Stock Exchange is planning to make it more difficult for new companies to be listed on the exchange. From now on companies wishing to issue a flotation will have to prove that their activities for the previous year achieved a minimal turnover of $500,000. In addition, ...
Bank reform approved. (by Israeli cabinet)
May 07, 1993 ... The cabinet has approved a controversial bank reform program presented by Minister of Finance Avraham Shochat and Governor of the Bank of Israel Prof. Jacob Frenkel. The goals of the proposal are to strengthen competition between the banks, reduce their control over other sectors of the ...
Report on economic highlights.
May 07, 1993 ... The relatively modest 9.4 percent growth in the consumer price index during 1992 and the resulting inflation rate of less than 10 percent are a major economic highlight for the year, according to an analysis prepared by the Manufacturers Association's economic unit. Exchange rate stability ...
Rabin approves foreign workers. (Yitzhak Rabin, construction work permits)
May 07, 1993 ... Prime Minister Yitzhak Rabin has approved bringing 2,000 foreign workers to Israel to work in construction. He also approved granting work permits to another 10,000 Palestinians to work in construction in addition to the 5,000 already permitted. The continuing closure of the Green Line, ...
Ilan Gat goes public. (Ilan Gat Engineers Ltd.)
May 07, 1993 ... The Ilan Gat Engineers Ltd construction company plans to issue shares on the Tel Aviv Stock Exchange. In the first stage, the company will raise NIS 12.5 million and 20 percent of the company will be available for the public to buy. In the second stage, an additional 20 percent of company ...
Robotrom IPO. (initial public offering)
May 07, 1993 ... Robotrom Ltd is to come out with an IPO on the TASE in the middle of May. The Tel Aviv-based firm manufactures wooden prefabricated buildings and building parts and is involved in construction, development, drilling, and ventilation systems. The company plans to raise NIS 46.5 million in ...
Marks & Spencer sales up. (Marks and Spencer franchise owner M.S.I.P)
May 07, 1993 ... M.S.I.P., the owners of the Israeli franchise for Marks and Spencer, ended 1992 with a sales turnover of NIS 35 million. This represents a 30 percent growth in turnover over 1991. While in previous years the company was part of the sales system of Hamashbir Lezarchan, it began ...
Kibbutz pays dividend. (Kibbutz Palmach Zova)
May 07, 1993 ... In a move unprecedented in the history of the kibbutz movement, Kibbutz Palmach Zova has decided to give its members financial bonuses. This comes in the wake of a successful 1992 financial year. Each member will be given a grant of NIS 1,000 for his or her personal use. Kibbutz Secretary ...
Israel-Moldova links.
May 07, 1993 ... Israel will provide aid to Moldova by helping it transform its military industries to peaceful uses, particularly in the field of electronics. At a meeting in Jerusalem, Moldova's prime minister and Israel's Minister Of Industry and Trade Micha Harish, compiled a list of sectors in which ...
Bialkin and Hochberg honored. (America-Israel Chamber of Commerce to present Government of Israel Trade Awards to Kenneth Bialkin and Irwin Hochberg)
May 07, 1993 ... On May 18 the America-Israel Chamber of Commerce will honor Kenneth Bialkin, a partner in the law firm Skadden, Arps, Slate, Meagher & Flom, and Irwin Hochberg, a senior partner and President of Bloom Hochberg & Co., at its 40th annual dinner at the Sheraton New York Hotel & Towers. ...
Autonomy to benefit industry. (Palestinian Arab autonomy)
May 07, 1993 ... In a newly published report, President of the Manufacturers Association Dov Lautman said that Israeli industry has nothing to fear from autonomy for the Palestinians. He argues that Israeli industry would actually be the chief beneficiary of economic development in the administered ...
Kuwait, Saudis cancel boycott. (Arab boycott of Israel)
May 07, 1993 ... According to a letter to the World Jewish Congress, signed by Thomas Miller, head of the State Department's Office of Israel and Arab-Israeli Affairs, Kuwait and Saudi Arabia will lift their boycott of U.S ....
Palestinians accept Lautman's proposal. (Manufacturers' Association of Israel's Dov Lautman to establish joint forum with Palestinian Arab industrial leaders)
May 07, 1993 ... Palestinian industrial leaders have accepted the proposal presented by Manufacturers Association of Israel President Dov Lautman to establish a joint forum. The new forum will meet periodically to discuss current economic problems, as well as future economic issues that may arise as a ...
Import policies criticized. (U.S. Department of Commerce)
May 07, 1993 ... The U.S. Department of Commerce's annual report contains harsh criticism of Israel's Ministry of Finance and Customs authorities. According to the report, Israel is using levies and methods to inflate the prices of products imported from the U.S. in order to create duty-free barriers ...
Israel-Japan trade up.
May 07, 1993 ... An increase of half a billion dollars is expected in trade between Israel and Japan, which will increase the bilateral trade volume between the two countries to $2 billion. At a meeting with a delegation of businesspeople representing Japan's largest industrial and trading companies, ...
IAI maintains U.S. Air Force. (Israel Aircraft Industries maintenance contract)
May 07, 1993 ... The first two United States Air Force F- 15 Eagle aircraft to undergo periodic depot maintenance (PDM) at Israel Aircraft Industries have been redelivered to their bases in Germany. Work was performed at IAI's Bedek Aviation Shaham Facility under a contract awarded to IAI in March 1992 ....
Chinese call Comverse. (Comverse Technology Inc. contracts with Chinese reginal telephone companies)
May 07, 1993 ... Comverse Technology, Inc. has received a $7.5 million contract from several regional PTTs (telephone companies) located in the People's Republic of China. Me order, for Comverse's TRILOGUE and TRILOGUE Infinity lines of multimedia message management systems, represents the company's ...
Ormat powers the Philippines. (Ormat Turbines Ltd. wins National Power Corp. contract to build a geothermal power station)
May 07, 1993 ... An American subsidiary of Ormat Turbines (1965) Ltd has won a tender to establish a 120 megawatt geothermal power station in the Philippines. If negotiations are successful, the project, valued at $180 million, is scheduled for completion by the end of 1996. In order to solve its energy ...
New waste disposal plan. (Minister of Environment Yossi Sarid)
May 07, 1993 ... Minister of Environment Yossi Sarid has developed a program which would shut down 400 garbage dumps throughout Israel within a year. The dumps are located near towns and cities, and most of them are operating illegally. All waste would then be transported to five existing dumps, which ...
Record diamond exports. (Israel Diamond Manufacturers Association report)
May 07, 1993 ... According to Executive Director of the Israel Diamond Manufacturers Association, Zvi Shur, Israel's 1993 diamond exports are expected to reach a record high of over $3 billion, as compared to exports of $2.64 billion in 1992. Shur bases this estimate on the 24 percent increase in the ...
Segev zaps metal. (Sagev Metal Works Ltd. adds laser cutting equipment to its production lines)
May 07, 1993 ... Segev Metal Works Ltd recently introduced laser cutting and perforation to its production line. The new laser production line allows higher-quality cutting and processing. It also simplifies the cutting process. This new production line makes it easier to process different types of ...
Facelift for Mitzpe Ramon. (Ministry of Tourism authorizes Mitzpe Ramon, Israel infrastructure repair funds)
May 07, 1993 ... Infrastructure work to the tune of NIS 7.5 million is currently underway to attract tourists to Mitzpe Ramon and its surroundings; According to Ministry of Tourism Director General Eli Gonen, NIS 5 million of this amount comes from the ministry's development budget. In accordance with the ...
Tel Aviv Hilton renovation.
May 07, 1993 ... The Tel Aviv Hilton is being renovated at a total estimated cost of $24 million. The money will be spent over the next five years as all the hotel's 600 rooms and suites are renovated. New furniture, carpets, wall-coverings, television sets and curtains will be put in the ...
The first all-kibbutz IPO. (Kibbutz Kinneret-owned Hofit shares to be listed on Tel Aviv Stock Exchange through initial public offering)
May 07, 1993; ... Buying shares in a kibbutz once meant turning over all your worldly goods to the collective when you joined. From then on, all decisions about the future of the kibbutz would be decided by weekly meetings, usually in the dining hall, where everyone had a chance to vote. ...
The David and Anne Warsaw Entrepreneurial Center.
May 07, 1993; ... Many people talk of turning Israel into a viable self-sufficient economic entity. Some even dream of Israel as the hub of Middle East commerce once peace is achieved. David Warsaw is neither a talker nor a dreamer. He is a doer who has already done much to push Israel in these directions ....
Henry J. Voss; Director, California Department of Food and Agriculture. (Personal Profile) (Column)
May 07, 1993; ... When California Governor Pete Wilson appointed Henry Voss director of the state's Department of Food and Agriculture, he highlighted Voss's experience as a first class administrator, and perhaps more important, as a family farmer. In the latter capacity, Voss understands the practical ...
D. Todd Dillinger. (appointed president of SRD Shorashim Medical) (Executive Appointments)
May 07, 1993 ... D. Todd Dillinger, formerly marketing manager, has been appointed president and CEO of the company, located at Moshav Shorashim in the Western Galilee. Dillinger is the co-founder and former president of Trendlines, Inc, a marketing and product development service, and was ...
Small molecules, big future. (Peptor)
May 14, 1993; ... When the president of Israel's most successful bio-technology company announced he was quitting earlier this year, many curious eyes were turned in his direction. Why would Dr. Yoram Karmon, who had turned InterPharm into a thriving $52 million business, want to leave? The answer came ...
Amcor and RM in India. (Rahan Meristem, contracts with Jain Irrigation Systems Ltd.)
May 14, 1993 ... Two Israeli firms signed export agreements with India's Jain Irrigation Systems Ltd at the recent AGRITECH |93 exhibition in Tel Aviv. One deal involves plant propagation firm Rahan Meristem which will initially supply the Indian firm with 3 million tissue-cultured banana shoots. Orders ...
Sapiens gets SmartStar. (Sapiens International Corp.)
May 14, 1993 ... Sapiens International Corporation has announced an agreement to acquire SmartStar Corporation, a privately-held company based in Goleta, California. Under the terms of the agreement, SmartStar will become a wholly owned subsidiary of Sapiens International, with SmartStar shareholders ...
Magal profits up 107%. (Magal Security Systems Ltd.)
May 14, 1993 ... Magal Security Systems Ltd reported net profits of $218,382 in the first quarter of 1993, up from $105,754 in the first quarter of 1992 - an increase of 107 percent. Net profits per share totaled $0.06 on 3,375,333 shares, compared with $0.03 per share on 3,360,000 shares in the ...
Laser profits sizzle. (Laser Industries Ltd.)
May 14, 1993 ... Laser Industries Ltd announced net profits of $370,000 in the first quarter of 1993, up from $40,000 in the corresponding period of 1992. Earnings per share totaled $0.07, up from $0.01 in the first quarter of 1992. Sales totaled $7.3 million, up from $7 million in the first quarter of ...
Elscint profit increase.
May 14, 1993 ... Elscint Ltd announced net profits of $9.39 million in the first quarter of 1993, up from $4 million in the corresponding period of 1992. However, $4.8 million of the declared profit for the first quarter of this year came from a change in the company's accounting system for income tax ....
4th Dimension sued. (4th Dimension Software Ltd.)
May 14, 1993 ... A dispute has developed over the shares of 4th Dimension Software Ltd. Michael Guter, who owns Tel Aviv-based OST Ltd, is suing his former partner, Ron Einav, and a number of other defendants. OST is involved in computer software systems analysis and design. It was formerly known as Einav ...
CSA wins Italian project. (Central Software and Automation Ltd., computerization of St. Ursula Hospital, Bologna, Italy)
May 14, 1993 ... Central Software and Automation Ltd (C.S.A.) has been selected to computerize the St. Ursula hospital, one of Western Europe's largest hospitals, located in Bologna, Italy. Among the other companies which competed for the project were leading European and U.S. companies in the medical ...
Carmel speaks German. (Carmel Software Engineering Ltd. in marketing contract with E.P.G.)
May 14, 1993 ... Carmel Software Engineering Ltd has signed a marketing agreement with Munich-based E.P.G valued at DM 3 million. E.P.G will market "Carmel Infolock", a data security product, in Germany, Austria, and Switzerland. The German company will translate all screen messages and directions for the ...
Senators back FEPZ. (Israeli Free Export Processing Zone)
May 14, 1993 ... Six U.S. senators have sent a letter to Prime Minister Yitzhak Rabin backing the idea of a Free Export Processing Zone (FEPZ) in Israel. The six are Alfonse D'Amato of New York, Daniel Inouye of Hawaii, Charles Grassley of Iowa, Joseph Lieberman of Connecticut, Arlen Specter of ...
Tefron shares may be Limited. (The Limited seeks to acquire controlling interest in Tefron Ltd.)
May 14, 1993 ... The U.S. textile firm The Limited, through its Israeli partner, Macpell Fashion Industries Ltd, is negotiating to purchase shares in Tefron Ltd, a lingerie manufacturing company. The negotiations have been dragging on for a considerable length of time, but have recently been accelerated ...
Teva U.S. exceeds local sales. (Teva Pharmaceutical Industries Ltd.)
May 14, 1993 ... Teva Pharmaceutical Industries Ltd reported a 27 percent increase in sales and a 75 percent increase in net profits in the first quarter of 1993 compared with the same period last year. Sales totaled $118.4 million and net profits totaled $13.5 million. Net profits per share totaled $2.50 ...
Scitex goes desktop. (Scitex Corporation Ltd. buys 13% of RasterOps Corp. securities)
May 14, 1993 ... Scitex Corporation Ltd. and RasterOps Corporation have signed a preliminary agreement under which Scitex will invest $10 million in newly issued RasterOps common stock, at a price per share of $8.00. Following the investment, Scitex will own more than 13 percent of RasterOps stock, making ...
EFI-Xerox venture. (Electronics for Imaging Inc.)
May 14, 1993 ... Electronics for Imaging, Inc. has reported 1993 first quarter revenues of $19.4 million - an increase of 12 percent from the fourth quarter and an increase of 193 percent from the same quarter last year. Income from operations for the first quarter was $4.1 million, compared to $3.2 ...
Fibronics down under. (Fibronics International Inc. contract with Bankstown, Australia)
May 14, 1993 ... An innovative communications network manufactured by Fibronics International Inc has been installed in the Australian town of Bankstown. At present the network serves about 300 employees in the municipality building, as well as other municipal employees in offices throughout the town. The ...
LanOptics into S. Africa. (contract with ISM South Africa)
May 14, 1993 ... LanOptics Ltd has signed a distribution agreement with ISM South Africa. ISM is the exclusive South African distributor of IBM products. LanOptics President Eli Harry expects this agreement, together with LanOptics's latest $4.5 million deal with IBM Norway, to increase company sales and ...
Keter turnaround. (Keter Publishing House earnings)
May 14, 1993 ... Keter Publishing House showed a NIS 1.65 million profit in 1992, as compared with a NIS 5.1 million loss in 1991 and a NIS 11.6 million loss in 1990. This is the first year the company has shown a profit since it issued shares on the TASE. Shares in the company rose by 20 percent in the ...
JCS videos for El Al magazine. (Jerusalem Capital Studios Ltd., El Al Israel Airlines 'Al Hagova' periodical)
May 14, 1993 ... El Al has selected Jerusalem Capital Studios Ltd to produce the video magazine "Al Hagova", which is shown on all El Al flights. Previously, the magazine was produced by United Studios of Israel, Herzliya. Other offers to ...
Cultivated caviar for export. (Kibbutz Dan, Israel)
May 14, 1993 ... The sturgeon fish, whose eggs are also known as caviar, is being cultivated in the fish ponds of Kibbutz Dan. The delicacy already is being served in 15 exclusive Israeli restaurants and exports are expected to begin this year. According to ...
Brokers' profits. (Batucha Securities and Investments Ltd.)
May 14, 1993 ... According to a survey of brokerage firms, Batucha Securities and Investments Ltd tops the list with assets of more than NIS 114.8 million for 1992. Batucha registered a net profit of NIS 24.2 million in 1992, representing a yield of 21 percent on shareholders' equity. The ...
Kahtans buy Unicorn. (Eliyahu and Ezra Kahtan, Unicorn 'Afik' Investments Ltd.)
May 14, 1993 ... Businessmen Eliyahu and Ezra Kahtan have paid $741,000 for 74 percent of the equity in Unicom ("Afik') Investments Ltd. In addition to this sum, they provided securities of $22 million against the company's debts to Bank Leumi. The brothers are also demanding that Unicom's board of ...
JEC profit decline. (Jerusalem Economic Corporation Ltd.)
May 14, 1993 ... The Jerusalem Economic Corporation Ltd has registered a 14 percent drop in profits - from NIS 14.17 million in 1991 to NIS 11.87 million in 1992. The loss stems from a new policy - the company is renting out properties rather than selling them for profit. T.L.S. controls 77.3 ...
Israeli-Hungarian fund.
May 14, 1993 ... A fund to strengthen trade ties between Israel and Hungary has been established. Headed by Aharon Meir, Hungarian Honorary Consul in Israel, the fund is intended to arrange visits and briefings ...
Foraz invests in Semech. (Semech Total System Support Ltd.)
May 14, 1993 ... Venture capital fund Foraz has agreed to invest $1.2 million in Semech Total System Support Ltd in return for 10 percent of the equity. The investment will consist of a capital investment and a loan to the owners, and Foraz will receive an option to purchase another 5 percent of the equity ...