Israel Business Today back issues from July 1993:
Is the Arab boycott crumbling? (Arab boycott against Israel)
Jul 02, 1993; ... Breakfast in Riyadh, lunch in Tel Aviv and business meetings in between? It may be far-fetched at the moment, but it could be an indication of things to come if recent developments in the Arab boycott of Israel signify the start of a new trend. The boycott was launched by the ...
No tax on TASE. (Tel Aviv Stock Exchange)
Jul 02, 1993 ... Minister of Finance Avraham Shochat recently announced that no tax will be levied on money made on the Tel Aviv Stock Exchange during 1993 and 1994. The announcement put an end to a period of speculation and nervousness on the TASE, which had resulted in a decline of 8.6 percent on the ...
McDonald fries up Israel. (McDonald's to build domestic french fried potato factory in Israel)
Jul 02, 1993 ... In the latest twist in the controversy over whether McDonald's should be allowed to import french fries to Israel, the American fast food chain has decided to build a plant to manufacture frozen french fries in Israel at a cost of $5 million. The fries will be used to supply McDonald's ...
Preparations for Bank Leumi IPO. (Bank Leumi le-Israel initial public offering)
Jul 02, 1993 ... Preparations are continuing for an IPO of 20 percent of Bank Leumi shares to the public, scheduled for the end of August. The board of directors of Bank Leumi is preparing to approve the preliminary prospectus. The prospectus must then be approved by the TASE and M.I. Holdings, which is ...
Sony chain opens. (Isfar Electronic Trading Company Ltd.)
Jul 02, 1993 ... Isfar Electronic Trading Co Ltd, marketers, wholesalers and importers of Sony audio and visual equipment, has opened the first Sony store in Israel. In the next five years the company intends to open several shops all over Israel for Sony electrical and electronic appliances. The cost to ...
Newpan inaugurates Kenwood House. (Newpan Importing and Marketing Ltd. opens Kenwood House consumer electronics equipment store)
Jul 02, 1993 ... Newpan Importing & Marketing Ltd has begun importing Kenwood products to be sold at the new Kenwood House in Rishon Le Zion. Kenwood House is a four-story building with a modern exhibition hall for home and vehicle stereo sets, a service laboratory, warehouses and offices. Newpan General ...
Kibbutz Maabarot IPO. (Maabarot Products Ltd., initial public offering)
Jul 02, 1993 ... Maabarot Products Ltd, owned by Kibbutz Maabarot, intends to issue its shares on the TASE. The issue will be managed by Poalim Capital Markets & Investment Ltd. Maabarot Products's two best known products are a diet milk shake drink, Materna milk substitute, and Bonzo pet food. The factory ...
Rashkor cools off Turkey. (Rashkor Delek Air Conditioning for Cars Ltd. contract with Otosan)
Jul 02, 1993 ... Raskor Delek Air Conditioning for Cars Ltd has signed a deal to export $1.5 million worth of vehicle air conditioning systems to the Turkish Otosan company. Otosan assembles Ford automobiles. Bnei Brak-based Raskor develops, manufactures, markets and exports automotive air conditioning ...
Fairchild to Israel.
Jul 02, 1993 ... The U.S. Fairchild concern will soon establish a factory in Israel for the manufacture of chains for modern conveyor systems. The factory will be established at cost of $3 million. Fairchild is interested in increasing its involvement in the field of conveyor systems. It has already ...
A.C. Nielsen to Israel. (plans subsidiary)
Jul 02, 1993 ... A.C. Nielsen, one of the world's leading market survey companies, is studying the possibility of establishing a subsidiary in Israel. Dun & Bradstreet (Israel) Ltd, a sister company, has announced that senior Nielsen directors from Europe have already visited Israel to examine this issue. ...
Teva prospectus. (Teva Pharmaceutical Industries Ltd. securities sale)
Jul 02, 1993 ... Teva Pharmaceutical Industries Ltd, has concluded the preparation of its prospectus for the sale of 15 percent of the company's shares on NASDAQ NMS. The prospectus will be submitted to the U.S. Securities & Exchange Commission for approval in July. The prospectus was prepared so that ...
Elite eats Eastern Europe. (Elite Industries Ltd. to buy Eastern European confectionery factory)
Jul 02, 1993 ... Elite Industries Ltd is about to conclude a deal to buy a confectionery factory in Eastern Europe. Strauss Marketing Ltd and two foreign companies, one from Britain, will be partners in the deal. The cost of the purchase is estimated at $35-40 million. The East European factory ...
Japanese pursue WIZDOM. (M.L.L. Software and Computer Industries Ltd. sells WIZDOM computer software generators to Technocom and Kubota)
Jul 02, 1993 ... M.L.L. Software & Computer Industries Ltd recently sold packages of its software generator WIZDOM to the Japanese company Technocom and its parent firm Kubota for 38 million yen. Following the release of the Japanese version of WIZDOM at the beginning of June, Technocom placed another ...
Hamashbir IPO planned. (Hamashbir Lazarhan Central Co-Op Society Ltd., initial public offering)
Jul 02, 1993 ... Hamashbir Lazarhan Central Co-op Society Ltd is planning an IPO of 25 percent of its shares on the TASE at the beginning of 1994, provided that the chain shows profitability in 1993. The company is currently owned by the Co-Op supermarket chain. After three years of heavy losses, 1992 was ...
Cable T.V. in Ariel. (Giltek Telecommunications Ltd. contract with Ariel, Negev Desert)
Jul 02, 1993 ... Giltek Telecommunications Ltd. has won a contract to set up and operate a cable television installation in Ariel, a settlement beyond the Green Line. The agreement is for 12 years, with an option for an additional three years. The final details of the agreement are still being worked out. ...
Agrexco summer imports. (Agrexco Agricultural Export Company Ltd.)
Jul 02, 1993 ... Agrexco Agricultural Export Co. Ltd expects to export 15,000 metric tons of fruits this summer at an estimated value of $40 million. The exports will include seedless grapes, mangos, litchis, melons, watermelons and cherry tomatoes. Thanks to the climate, Israel can begin ...
Golan wines win prize. (Golan Heights Winery Ltd.'s 1989 Yarden Cabernet Sauvignon wins Winexco 1993 gold medal award)
Jul 02, 1993 ... Quality vintners Golan Heights Winery Ltd, has produced a 1989 Yarden Cabernet Sauvignon wine which has won a cup and gold medal in the Winexco 1993 exhibition held in Bordeaux, France. This is the third time that Golan ...
Pizza Hut orders extra cheese. (Pizza Hut asks U.S. intervention in important mozzarella cheese to Israel)
Jul 02, 1993 ... The management of Pizza Hut Israel, has appealed to U.S. Ambassador Israel William Brown to intervene on its behalf in its application for a license to import mozzarella cheese. The request was sent by Pizza Hut Israel Chairman Mordechai Harel. The appeal comes in the wake of the decision ...
Bank of Israel, Shochat disagree. (Minister of Finance Avraham Shochat)
Jul 02, 1993 ... The Bank of Israel has released a statement opposing Minister of Finance Avraham Shochat's decision not to separate the Tefahot Israel Mortgage Bank Ltd from the United Mizrahi Bank Ltd Group. According to the bank, separating the two would represent an important component in Bank of ...
Bank reform law amended. (Israeli Minister of Finance Avraham Shochat)
Jul 02, 1993 ... Minister of Finance Avraham Shochat has completed the amendment to the banking law that restricts the banks' holdings in non-bank corporations. (See IBT vol. 326.) The amendment also restricts the purchase of bank shares by institutional investors. Banks will have to reduce their holdings ...
Accelerated construction plans. (Israel Lands Administration)
Jul 02, 1993 ... Israel plans to accelerate construction in the center of the country over the next three years. The Israel Lands Administration will gradually release its hold on land for the construction of 50,000 housing units. Most of the construction plans involve mixed construction, with cottages and ...
Jerusalem business district comes of age. (Jerusalem, Israel dedicates new municipal and business center)
Jul 02, 1993 ... Jerusalem's new municipal complex was dedicated on June 28. The new complex is the fulfillment of a 40-year-old plan to give Jerusalem a modern municipal and business center more in keeping with its status as a capital city. In addition to the municipal offices, the complex also includes a ...
Proposal to cancel development grants. (Israel Ministry of Trade and Industry Director-General Natan Sharoni)
Jul 02, 1993 ... Director-General of the Ministry of Industry and Trade Natan Sharoni has put forth a radical proposal to cancel capital grants provided under the Law to Encourage Capital Investments. Instead, he suggests tax benefits for residents of development zones and special aid to increase ...
Industrial exports up. (Israel)
Jul 02, 1993 ... Israel's industrial exports ranged between $701 to $750 million per month for the first five months of 1993. This represents a 7 to 8 percent increase over the average figures in the second half of 1992. However, industrial export figures have been declining since the beginning of the ...
International standards innovation. (Europe Community sets ISO 9000 standard for international marketing acceptability)
Jul 02, 1993 ... From now on, the key to competition in the EC will be an international standard called ISO 9000. Only products bearing this tag will be acceptable for sale in the international markets. Some 500 Israeli factories have already submitted applications for the standard tag, but to date the ...
Abic medical kits. (marketing medical travel kits)
Jul 02, 1993 ... Abic Ltd is marketing a medical travel kit which contains essential medicines designed to cover all eventualities, from diarrhea to eye inflammation and headaches. Abic has also included an explanatory pamphlet containing a list of medical terms in five languages to facilitate ...
QX-Triangle alliance. (QX Enterprises, Triangle Technologies offer strategic alliances for Israeli computer software industry)
Jul 02, 1993 ... QX Enterprises and Triangle Technologies have announced a new strategic alliance to help Israeli software developers penetrate the Japanese software market. Roughly 80 percent of Japan's NEC PCs are not IBM compatible. Software which runs on IBM compatible PC's in the U.S. will not operate ...
Israeli-European beeper services. (Beeper Communications Israel Ltd. and Beeper Page Call join Beeper Communications satellite communications system)
Jul 02, 1993 ... Beeper Communications Israel Ltd, a subsidiary of Motorola Israel Ltd and Beeper Page Call (United Services 1978) Ltd, will begin transmitting calls to subscribers via satellite. Starting in October, the calls will be broadcast from the company's Tel Aviv center, via European ...
Azimuth sales to foreign army. (navigational systems)
Jul 02, 1993 ... In the past month Azimuth Ltd has supplied a foreign army with approximately NIS 500,000 worth of advanced systems. This is a continuation of deals made with the same army in the past. The deal is mainly for navigational and observation systems. The navigational system or, in ...
Paz imports bitumen. (Paz Oil Co.)
Jul 02, 1993 ... The Paz Oil Co. of Haifa has imported 3,000 metric tons of bitumen, a type of asphalt, to be used on an experimental basis. The idea to import the bitumen was conceived by the outgoing executive director of Paz, Aryeh Levy. The reason is due to the rise in the Public Works Department's ...
Ferguson loses IEC order. (Ferguson Shipbuilders Ltd., Israel Electric Corp.)
Jul 02, 1993 ... Israel Electric Corporation awarded a contract to build two new tugboats for the Hadera coal port to a Scottish company, Ferguson Shipbuilders Ltd, but Minister of Transportation Yisrael Kessar canceled the decision days later. Ferguson had offered to build the two boats at a cost of $13.6 ...
Bezeq reviews procurement procedures. (contracts)
Jul 02, 1993 ... The Israel Electric Corporation Ltd has decided to open up bidding to foreign suppliers. The decision has caused Bezeq, the national telephone concern, to set up a committee to monitor procurement of goods and services. At the top of the list of affected companies are Tadiran and Telrad, ...
Orlite helmets to helmut. (Orlite Engineering Company Ltd. contract with German army)
Jul 02, 1993 ... Orlite Engineering Co. Ltd has won a bid to participate in a pilot project to supply the German army with helmets. The Ness Ziona-based company won the contract in conjunction with the German Clouth company. Together with its German partner, Orlite will supply helmets for part of the pilot ...
Guri IPO. (Guri Import Ltd., initial public offering)
Jul 02, 1993 ... Guri Import Ltd plans to issue shares on the TASE within a few months. Guri is ranked 68th in Dun & Bradstreet (Israel) Ltd's list of Israel's top 100 non-industrial companies with a sales turnover of $45 million. Recently Guri received the Italian Chicco company's concession ...
Alliance tires for Aquino. (Alliance Tire and Rubber Company Ltd. wins contracts with U.S. and Philippine companies)
Jul 02, 1993 ... Alliance Tire & Rubber Co. Ltd has won a bid by a U.S. company to manufacture and distribute special tires for agricultural vehicles used in apple orchards. The initial order encompasses a $150.000 multi-annual deal. This contract is the second of its type Alliance has won recently. The ...
Huliot files Korea. (Huliot Plastic Industries wins South Korean office equipment contract)
Jul 02, 1993 ... Huliot Plastic Industries has won a South Korean tender to supply $200,000 worth of office and filing equipment. The factory established its first contacts with Korea about a year ago through a local distributor, and since then has sent several shipments there. The company expects to send ...
New Haifa Chemicals factory. (financing)
Jul 02, 1993 ... Bank Hapoalim Ltd and Israel Discount Bank Ltd will provide Haifa Chemicals Ltd with a $62 million credit line to fund the establishment of a new factory in the Negev. The factory, currently under construction, will produce potassium nitrate and phosphoric acid. Haifa Chemicals will invest ...
Asphalt pioneer. (Pioneer Quarries Israel Ltd.)
Jul 02, 1993 ... Pioneer Quarries (Israel) Ltd, which owns quarries and manufactures aggregate and road materials, has established Israel's largest factory for the manufacture of asphalt for roads. The factory, located in a Pioneer quarry in the Upper Galilee, was established at a cost of over $2.7 ...
Packaging for glatt-kosher food. (Ducart Packaging Industries contract for heating packaging for pre-cooked food for ultra-orthodox Jews)
Jul 02, 1993 ... Ducart Packaging Industries Kfar Masaryk, has recently signed an agreement with a U.S. company to manufacture and sell printed carton packaging in which precooked, glatt-kosher portions of food can be heated up. The carton packaging, made in accordance with detailed instructions from the ...
Camel sells Norton grinding wheels. (Camel Grinding Wheel Works, Sarid Ltd.)
Jul 02, 1993 ... Camel Grinding Wheel Works, Sarid Ltd has recently signed an agreement to be the sole marketer in Israel of U.S. based Norton's grinding wheels and sharperling belts called NOREZON H822. In ...
El Al expects more passengers.
Jul 02, 1993 ... El Al expects more than 600,000 passengers this summer, an increase of 10 percent over last summer. The airline has added two Boeing 757s to its fleet, and will have the use of an additional 757 as a result of an agreement with the charter airline Air Holland. Under the terms of the deal, ...
Encouragement for tourism investment. (Israel Ministry of Tourism authorized to demarcate 22 tourism zones)
Jul 02, 1993 ... The Cabinet has unanimously approved a proposal by Minister of Tourism Uzi Baram to demarcate 22 tourism zones throughout Israel where tourism projects will receive governmental approval, priority and aid. This is the first time the Cabinet has discussed and approved the demarcation ...
Middle East flight survey. (Israeli-Middle Eastern airline services)
Jul 02, 1993 ... According to a recent survey by an Israeli company, passenger traffic flying to and from the Middle East will at least double by the year 2010. The survey is based on the assumption that the Middle East will continue to enjoy economic and political stability. According to the survey, the ...
Wanted for export: professional services. (Israeli classification of service industries)
Jul 02, 1993; ... Whenever the word exports is used in Israel, it almost always refers to the sale of Israeli manufactured goods abroad. Though the country enjoys some export of natural materials, the relatively small quantity of natural resources means that these can never contribute substantially to ...
Elscint. (Israeli Stock Advisory) (Company Profile)
Jul 02, 1993; ... EIscint, one of Israel's best known international companies, is a developer and manufacturer of medical diagnostic imaging equipment that offers substantial advantages over competitive systems in terms of price and performance. Some years ago, the company went through a difficult period, ...
IBM in Israel.
Jul 02, 1993; ... Changes in the international computer business are forcing even glants like IBM to reluctantly look far afield for quality products. Such products will provide the fast growing Israeli software industry, which enjoyed sales of $600 million dollars in 1992, up 20 percent from 1991, with ...
Ossy Launer; General Manager Tadiran Information Systems. (Personal Profile) (Column)
Jul 02, 1993; ... As a company employee responsible for managing Tadiran Ltd.'s internal computer department, Ossy Launer, now general manager of Tadiran Information Systems, didn't wake up each day saying, "Today may be the day." Now, he does, and he says, "It's changed me." The change started ...
Zvi Reshef. (named Zivud Darom Ltd. marketing and sales manager) (Executive Appointments)
Jul 02, 1993 ... Zvi Reshef has been appointed marketing and sales manager at Zivud Darom Ltd, a Ness Ziona-based firm that manufactures and markets electronic closures, stamped or pressed metal, laser- ...
Rami Remez. (named Polyziv Injection Moulding Plastics deputy general manager of marketing) (Executive Appointments)
Jul 02, 1993 ... Rami Remez has been appointed deputy general manager in charge of marketing at Polyziv Injection Moulding Plastics of Kibbutz Gesher Haziv. Remez, 56, has also worked at Israel Aircraft Industries, has served as export ...
Oded Cohen. (named Gadot Petrochemicals Industry Ltd. general manager) (Executive Appointments)
Jul 02, 1993 ... Oded Cohen has been appointed general manager of Gadot Petrochemical Industries Ltd. He studied ...
Adapting to growth. (SRD Shorashim Medical Ltd.)
Jul 09, 1993; ... Israel has always had its fair share of fortune in the medical market. Israeli names have long been associated with the movers and shakers in the field: medical imaging and Elscint, biotechnology and Efraim Katzir, and Teva and pharmaceuticals. According to the Israel Export Institute, ...
Prigat to Romania. (to build fruit juice factory in Bucharest, Romania)
Jul 09, 1993 ... Prigat will invest $2 million to set up a fruit juice concentrate factory in Bucharest, Romania. The factory, which is a joint investment with a local firm, will market the concentrate to the local market under the name "Natural Champion." Gat Sales Manager Moshe Arbel stated that ...
I.D.E. desalinates Cyprus. (I.D.E. Technologies Ltd. sells desalination equipment to Cyprus electric authority)
Jul 09, 1993 ... Cyprus's electic authority has purchased an automatic installation for desalination of sea water from I.D.E. Technologies Ltd for $860,000. I.D.E. Technologies representatives have told the Cypriot electric authority that the installation will give rise to considerable savings as soon as ...
Bid for United Mizrahi Bank. (Benjamin Perl and Shlomo Perl-led group)
Jul 09, 1993 ... A group of investors, headed by British millionaire Benjamin Perl, and his brother Shlomo Perl, is organizing to buy United Mizrahi Bank Ltd. Benjamin Perl has already met with Minister of Finance Avraham Shochat on the issue. In Britain, Benjamin Perl is involved mainly in real estate and ...
Mizpe sells plastic now. (Mitzpe M.C.P. Performance Plastic distribution contract with now-Plastics)
Jul 09, 1993 ... Mitzpe M.C.P. Performance Plastic of Kibbutz Hamaapil has signed a distribution agreement with Now-Plastics to distribute its products throughout the U.S. Now-Plastics is based in Springfield, Massachusetts, and has an annual sales turnover of $17 million. It is involved in marketing ...
Economy slows down. (Israel)
Jul 09, 1993 ... According to the Bank of Israel, the index of leading economic indicators for the month of May showed a drop of 0.9 percent, reaching 130.8 points. From March to May the index fell by 1.3 percent. Since the beginning of the year, the index declined by 0.5 percent. By comparison, during the ...
Preparations for Shekem IPO. (initial public offering)
Jul 09, 1993 ... Shekem, the department store chain, plans to raise NIS 200 million through an IPO of government-held shares in the company. The company also plans to raise capital directly. The money raised will be used to continue to develop the Shekem chain. The company's financial reports ...
Classica supplies U.N. forces. (Classica International Ltd.)
Jul 09, 1993 ... Classica International Ltd recently signed an agreement with the United Nations to supply the multinational forces in Somalia with equipment and food. Under the agreement, every three weeks the company will supply more than a million bottles of Israeli mineral water as well as milk, ice ...
No more receivership for El Al. (El Al Israel Airlines)
Jul 09, 1993 ... Minister of Transportation Yisrael Kessar will soon appoint a professional staff to take El Al out of receivership and advance the privatization of the state airline. The staff will deal with the two matters separately. As part of the process of canceling the airline's receivership status, ...
Scitex buys RasterOps shares.
Jul 09, 1993 ... Scitex has acquired 570,000 additional shares in RasterOps, increasing its stake in the company to 19.4 percent. The shares were acquired through a block trade in the market. Last month, Scitex reported that it had completed its initial investment in RasterOps whereby it acquired from the ...
Arad Towels IPO. (initial public offering)
Jul 09, 1993 ... Arad Towels Ltd came out with an IPO on the TASE on July 6. The IPO consisted of 1.8 million shares of common stock, as well as 2,550,000 registered warrants with an expiration date of June 25, 1995, exercisable into a single share each. These stocks and warrants were offered in units ...
Worldwide Fibronics deals. (Fibronics International Inc.)
Jul 09, 1993 ... Fibronics International Inc has won a series of contracts in France, with a combined total value exceeding $2 million. One project which has already been completed involves the installation of special bridges for fiber optics in the Paris Metro. The fiber optics bridges, which meet the ...
Agrexco loses monopoly. (Agrexco Agricultural Export Company Ltd)
Jul 09, 1993 ... Agrexco Agricultural Export Co. Ltd's monopoly on exports of fresh agricultural produce has been undermined with the cancellation of its sole right to export sabra fruit. Minister of Agriculture Ya'acov Tsur granted a request by sabra fruit farmers who asked to export the fruit through Tel ...
Gemini reaches goal. (Gemini Israel Fund L.P. capitalization)
Jul 09, 1993 ... The Gemini Israel Fund LP, established in January 1993 as Israel's first Yozma-backed independent venture capital partnership, has announced that the initial capitalization target of $24 million has been achieved. Yozma was established in 1992, primarily to sponsor the development of a ...
Orgenics private placement.
Jul 09, 1993 ... Orgenics Ltd plans to raise $4 million in a private placement. The issue will be managed by Y.L.R. Capital Markets and Poalim Capital Markets. The company, which manufactures mainly for export, specializes in diagnostic equipment which tests for diseases such as AIDS and hepatitis ....