Israel Business Today back issues from May 1994:
Home Depot's Marcus slams Israeli retailing. (Bernard Marcus)(includes related articles on Home Depot's contracts with Israeli manufacturers)
May 06, 1994; ... Bernard Marcus doesn't think highly of Israeli retailing. The Chairman and CEO of Home Depot is one of the leading retail managers in the U.S., and is credited with turning Home Depot into the largest home improvement chain in the U.S., with sales of $12 billion. Speaking at a ...
Bank Leumi share sale postponed 1 month.
May 06, 1994 ... The government tender to sell the controlling interest in Bank Leumi has been extended to May 19 due to a shortage of participants. Finance Minister Avraham Shochat said the move was made because it is preferable to have several candidates for the shares rather than just one. So far, the ...
Fairchild invests in Israel.
May 06, 1994 ... The U.S. Fairchild Corp is to invest $20 million in solar communications in Israel, the Haaretz daily reported. The investment will be made via Fairchild's partners in the Cell-Phone Group, one of the parties bidding in the tender to run Israel's second cellular phone system. A ...
EUROM-Ampro agreement. (Ampro Computers will market EUROM FlashWare Solutions Ltd.'s flash memory device)
May 06, 1994 ... Multimedia and embedded module firm Ampro Computers of Sunnyvale, California has formed a partnership with EUROM Inc for the distribution and support of EUROM's Flash DiskOnChip[TM] The flash memory device will be offered as a solid state disk (SSD) option on Ampro's CPU modules. ...
Temporary Israel-PLO economic agreement expected.
May 06, 1994 ... Israeli observers say the chances are slim for Israel and the PLO to conclude their economic agreement at this time, the Maariv daily reported. Finance Minister Avraham Shochat is scheduled to meet with PLO Economic Advisor Abu-Ala in a final attempt to reach a full agreement. It appears ...
Robomatix to China with local company. (Xi'an Aero-Engine Corp.)
May 06, 1994 ... Robomatix [NASDAQ:RBMXF] signed a letter of intent with China's Xi'an Aero-Engine Corporation to set up a joint company to operate in China. The new company will develop and manufacture computerized quality control systems for the automobile and aircraft industries. Xi'an Aero-Engine ...
NASD investigates 4th Dimension. (National Association of Securities Dealers looks into alleged investor trading at 4th Dimension Software)
May 06, 1994 ... A spokesman for 4th Dimension Software [NASDAQ NMS:DDDRF] has termed "totally fallacious" a report in the Maariv daily which said the National Association of Securities Dealers (NASD) had requested information from the Israeli company for an investigation into insider trading. Maariv said ...
Tower Records to open 7-10 more stores. (in Israel by 1999)
May 06, 1994 ... Tower Records has announced plans to open seven to l0 more stores in Israel in the next five years. The announcement was made at an economic conference sponsored in part by the America-Israel Chamber of Commerce. Boaz Raam, president of Volta International USA, Tower's partner, said that ...
Comet IPO on Wall Street. (initial public offering)
May 06, 1994 ... Comet Co, developer of hospital management software, is holding an initial public offering in the U.S. The company plans to raise $7.4 million, of which 45 percent will be used for R&D and 34 percent for marketing and client support. The balance will be used for return of capital and to ...
Half of Lapidoth Oil Corp. to be sold this year. (planned privatization of Lapidoth Israel Oil Prospectors Corp.)
May 06, 1994 ... The Ministerial Committee on Privatization headed by Prime Minister Yitzhak Rabin has decided to sell the government's 99 percent holdings in Lapidoth Israel Oil Prospectors Corp in two stages. In the first stage, 49 percent of the company will be sold and additional capital raised on the ...
Amir Paper to market "Surety" line in Israel. (Amir Paper Products, incontinence products)
May 06, 1994 ... Amir Paper Products signed an agreement with U.S.-based Confab to market its "Surety" line of adult incontinence products in Israel, Amir Managing Director Yoav Nir announced. The products, which are discreet and odor absorbing, were developed for women living modern ...
CTel wins $2.3 M British Telecom contract. (Compression Telecommunications Corp. will supply Clarity Measurement System)
May 06, 1994 ... Compression Telecommunications Corp (CTel), ECI Telecom's 75 percent-owned U.S. subsidiary, will supply its Call Clarity Measurement System (CCMS) to British Telecom under a $2.3 million contract, ECI announced. The CCMS system will be used by British Telecom to monitor performance quality ...
Decsys to participate in Australian project. (will supply WIZARD system to cable network)
May 06, 1994 ... Decsys, a subsidiary of Digital Israel, will participate in a telecommunications information project for an Australian cable network. Under a $250,000 contract, the company will supply its WIZARD system to the network for its pay-per-view shows and monthly billing. The WIZARD system ...
Geotek to operate wireless system in S. Korea. (Geotek Industries)
May 06, 1994 ... Geotek Industries [NASDAQ:GOTK] has announced a strategic cooperation agreement with South Korean electronics manufacturer N.M. Industrial. The two firms will compete in a tender next year to operate a wireless system in South Korea. The agreement calls for N.M. to invest $10 million in ...
New Magic for Informix. (Magic Software Enterprises introduces software that interfaces with Informix-OnLine database)
May 06, 1994 ... Magic Software Enterprises [NASDAQ NMS:MGICF] of Ramat Gan has unveiled a new version of its Magic applications generator featuring an interface for the Informix-OnLine database. Magic management said this new version of the company's applications generator represents the latest stage in ...
Clal to expand investments. (in areas other than heavy industry)
May 06, 1994 ... The Clal conglomerate will invest less in heavy industry and more in finance, trade, insurance, tourism, electronics, chemicals, medicine and drugs, Chairman A. Olshansky and President and CEO D. Wainshal announced recently. They said Clal subsidiary Batucha Securities 8 Investments Ltd is ...
Elta radar first choice for Australian Air Force. (Elta Electronics Industries)
May 06, 1994 ... Radar manufactured by Elta Electronics Industries, a subsidiary of Israel Aircraft Industries (IAI), is included in the bids by three western companies to upgrade Australia's sea patrol helicopters. E Systems (USA), and the Australian representatives of Rockwell Collins and Martin Marietta ...
Cider Hagalil ups "Outcider" production. (bottled drink)
May 06, 1994 ... Cider Hagalil has opened a new $2 million production line to bottle its hit drink, "Outcider". The equipment, purchased in Germany, Switzerland, Italy and Israel, is capable of filling and packaging up to 15,000 bottles per hour. A soon to be released ad campaign is expected to boost ...
Electra profits up 18%. (Electra Israel)
May 06, 1994 ... Electra Israel of Rishon Le Zion reported a net profit of NIS 10.8 million (approx. $3.6 million) in 1993, up 18.2 percent from 1992. Income from work performed, services rendered and sales totaled NIS 428.9 million ($143.4 million), a gain of 6.7 percent from the year before. At the end ...
Istec profit increase. (Istec Industries & Technologies Ltd.)
May 06, 1994 ... Electronics For Imaging (EFI) [NASDAQ:EFII] finished the first quarter of 1994 with record sales of $27.3 million, versus $19.4 million in the first quarter last year. The company's first quarter profits were $4.1 million, versus $2.7 million in the first quarter of 1993 -- a growth of 51 ...
I.I.S. profits down. (I.I.S. Intelligent Information Systems Ltd.)
May 06, 1994 ... I.I.S. Intelligent Information Systems Ltd [NASDAQ NMS: IISLF] reported net income of $1.05 million or $0.08 per share in the first quarter of 1994, down 65 percent from $3.01 million or $0.24 per share in the corresponding period of last year. Company spokespeople pointed out, however, ...
Naot Mordechai Industrial Park agreement signed. (planned for Kibbutz Naot Mordechai land)
May 06, 1994 ... Uri Dori, El-Kanit Co of the Al-Rov group, and Kibbutz Naot Mordechai have signed an agreement to build an industrial park on 600 dunams (150 acres) of the kibbutz's land. Under the agreement, El-Kanit will hold 30 percent of the stock of the new company to be established, and ...
Shalhevet Security course in Europe. (on terrorist attack protection)
May 06, 1994 ... Shalhevet Security Services course on personal security and behavior during a terrorist attack is now available in Europe. The course, conducted by Safe International Security Services, an Amsterdam subsidiary, is designed for business and government personnel who are potential targets of ...
Judaica Fair attracts 120 exhibitors. (Jerusalem Fifth International Judaica Fair)
May 06, 1994 ... The Jerusalem Fifth International Judaica Fair, held at the end of April, attracted 120 exhibitors, a 25 percent increase over previous years. Thousands of items made by artists from Israel, Europe and the U.S. were on sale, including antiquities, rare manuscripts, ritual objects, and ...
Israel & India to initial trade agreement.
May 06, 1994 ... Israel and India plan to initial a mutual trade agreement granting each other most favored nation status. Under the agreement, Israel will remove all trade barriers and allow the free flow of goods between the two countries. The agreement will also include articles guaranteeing economic ...
Number of job seekers declines. (Israel Ministry of Labor and Social Welfare figures)
May 06, 1994 ... For the second month running, the number of job-seekers in Israel declined. Figures released by the Ministry of Labor and Social Welfare show a 3.5 percent decline in the number of job seekers, from 107,600 in February to 101,900 in March. There was also an 8.9 percent drop in the number ...
World trade growth to Israel's advantage. (Industry and Trade Minister Micha Harish)
May 06, 1994 ... Israel will benefit from the expected $100-$200 billion growth in world trade expected in the near future, Industry and Trade Minister Micha Harish said on his return from signing the GATT agreement in Morocco. Harish said Israel is profiting from the new international trade conditions and ...
Israel & Ethiopia widen trade cooperation.
May 06, 1994 ... Israel and Ethiopia will widen their cooperation in the area of trade, Deputy Minister of Industry and Trade Masha Lubelsky announced. Lubelsky met with the head of the Trade Promotion Division of the Ethiopian government to discuss practical ways to expand trade between the two countries ....
21% rise in companies seeking chief scientist support. (Office of the Chief Scientist of the Israeli Ministry of Industry and Trade funding)
May 06, 1994 ... In the first quarter of 1994, 273 Israeli companies requested funding from the Office of the Chief Scientist of the Ministry of Industry and Trade, Chief Scientist Dr. Yehoshua Gleitman reported. He said the figure represented a 21 percent gain ...
1st quarter sales rise 8%. (Federation of Israeli Chambers of Commerce economic assessment)
May 06, 1994 ... A survey by the Federation of Israeli Chambers of Commerce has found that the recent stock market decline and the indefinite closure of the Administered Territories did not adversely affect economic activities during the first quarter. Sales for the first three months of the year rose by 8 ...
Kibbutz industry exports in decline.
May 06, 1994 ... Kibbutz industry exports reached $733 million in 1993, a 5 percent drop from the 1992 figure of $779 million. Kibbutz industry officials attributed the drop to a low exchange rate, the low price of export goods and the inability of the Israel Foreign Trade Risk Insurance Corporation to ...
Elisra to expand commercial activity.
May 06, 1994 ... Elisra, the defense contractor owned by Tadiran, is looking to increase its activity in civilian and commercial production to ten percent of the company's activities within three years, says its new manager, Avner Raz. While the bulk of its business will continue to be defense related, ...
New Elron data communications unit. (Elron Electronic Industries)
May 06, 1994 ... Elron Electronic Industries of Haifa [NASDAQ NMS:ELRNF] will set up a new data communications unit at an investment of $2 million, according to the Haaretz daily. The newspaper said Elron CEO Uzia Galil told a recent meeting of senior analysts in New York about the plan. He said the ...
Tadiran Florida factory approaches profitability.
May 06, 1994 ... A factory set up by Tadiran [NYSE:TAD] in Florida, U.S., is still not profitable but will soon cross into the black, a Tadiran official said. The factory manufactures about 1,000 SINCGAR communication sets each month for the U.S. army, and Tadiran officials hope the factory will become the ...
C. Mer sells to Germany. (C. Mer Industries Ltd. computer communications products will be sold in Germany)
May 06, 1994 ... C. Mer Industries of Holon has signed an agreement with a leading German distributor, whereby C. Mer computer communication products will be distributed in Germany. The agreement is expected to result in sales of over $1 million this year. C. Mer Industries Ltd has enjoyed ...
Optic cable links Israel, Egypt.
May 06, 1994 ... A new optic cable providing a direct communications link between Israel and Egypt will be inaugurated at the Africa Telecom communications fair in Cairo, Egypt. The line joins the communications systems of Israel and Egypt and will have 60 channels. It was laid from ...
Payback time for Bezeq customers. (Bezeq - the Israel Telecommunication Corp.)
May 06, 1994 ... Bezeq - The Israel Telecommunication Corporation will compensate some customers for losses incurred due to the workers' strike in March, a company spokesman announced. Subscribers whose phone lines were completely cut off will receive credit for their March service charge along with ...
$100 M power station to be built. (Leumi and Co. Investment Bank plans to build in Israel)
May 06, 1994 ... Leumi & Co Investment Bank is making initial contacts over the building of a new power station in Israel. The $100 million station will be built by a partnership of Israeli and foreign investors and will supply 124 megawatts of power. The partnership's initial capital will be approximately ...
Serafon shipment to Egypt. (Serafon Resinous Chemicals Corp. began exporting products there)
May 06, 1994 ... Serafon Resinous Chemicals Corp of Rehovot has made an initial export shipment of 15 tons of its products to Egypt, at a cost of $10,000. The shipment included industrial wood and cardboard glues, textile and surface adhesives, sealants and bleaching materials for walls and roofs. Serafon ...
Dead Sea cosmetic factory in Japan. (Giora Shavit)
May 06, 1994 ... Giora Shavit, which manufactures cosmetics from Dunaliella seaweed grown in the Dead Sea, will establish a sister factory in Japan, Adi Sadiv, export manager, told IBT. The Israeli company will supply the partnership with raw materials and know-how and the Japanese will invest in building ...
Clal Trade to sell Shigur Express.
May 06, 1994 ... Clal Trade is negotiating with an unnamed company to sell its controlling interest in courier and delivery company Shigur Express, in which it currently owns 92.5 percent. Clal said it will give the buyer the option of purchasing Shigur shares through a subsidiary or by a private placement ...
Yesodot Aluminium acquires Sapa Front line. (Yesodot Aluminium Systems)
May 06, 1994 ... Yesodot Aluminium Systems acquired the exclusive right to the Sapa Front line of glass walls and ceilings. The company invested NIS 1.5 million (approx. $502,000) to adapt its production facilities to produce the Sapa Front products, Managing Director Chanoch Hershkowitz said. These ...
EXPOconnection - North America's fashion connection.
May 06, 1994 ... EXPOconnection enables North American fashion buyers to tap into the Israeli market without having to worry about language and cultural barriers. The company's service differs from that of other buying offices in that it takes over the logistics of market research, account development and ...
Two Dead Sea Hotels in the works. (Dead Sea, Israel)
May 06, 1994 ... Two new hotels are planned for the Dead Sea area, at a total investment of $73 million. Tel Aviv-based real estate firm Africa Israel Investments and Tel Aviv-based contractor Ashtrom Engineering recently signed a contract to build one of the hotels. Ground will be broken for the $43 ...
Abu Ghosh to undergo NIS 10 million face lift. (Israel)
May 06, 1994 ... After a visit to the Arab village of Abu Ghosh, Minister of Tourism Uzi Baram said he believed the village can become a tourist attraction due to its unique character and proximity to Jerusalem. The village is among the areas that the Ministry of Tourism intends to develop. Specific ...
Fibronics' last stand. (Fibronics International Inc.)
May 06, 1994; ... In a bid to escape recent heavy losses, Fibronics International Inc [NASDAQ NMS: FBRX] is focusing its efforts on a line of computer communication hubs. "We are betting our future on it," Fibronics President Gil Weiser said at an informal press conference held during a recent convention of ...
Holy multimedia! (Davidson-Azai will publish the Bible in multimedia format)
May 06, 1994 ... "Multimedia" is the word. The corporate world is scrambling to find publishing products that can make the CD-ROM's promise a reality. Almost every conceivable title is being computer readied. Thus far the big winners have been encyclopedias. Yet nowhere is man's greatest ...
Israviation's effective solution to business travel.
May 13, 1994; ... KIRYAT SHMONAH, ISRAEL -- Israviation Ltd, founded in 1991, is competing an intermediate prototype of a craft whose concept and design is aimed at revolutionizing business flights. In 1989 Stephan Juffa, a director of the trade division of the Swiss corporation EDM, was assigned ...
Kalanit sets up Super Office in Netanya. (Kalanit Center for Marketing Software and Hardware, Netanya, Israel) (Brief Article)
May 13, 1994 ... Kalanit Center for Marketing Software and Hardware has been appointed the exclusive software distributor for the Super Office chain in Israel. The company will offer a wide variety of business programs, multi-media software and games at the Super Office store in Netanya and other planned ...
LANNET makes BMW bulletproof. (BMW Manufacturing Corp., LANNET's fault-tolerant switching hubs) (Brief Article) (Brief Article)
May 13, 1994 ... LANNET Inc, a leading supplier of fault-tolerant switching hubs, announced that BMW Manufacturing Corp has selected it as a networking partner to provide intelligent hubs throughout the new BMW plant in South Carolina. The hubs to be provided are from LANNETs MultiNet[R] line. The $400 ...
Yakhin canning IPO planned. (Yakhin Hakal citrus product manufacturing group) (Brief Article)
May 13, 1994 ... The Yakhin Hakal citrus product manufacturing group is planning an IPO of subsidiary Yakhin Canning Co on the Tel Aviv Stock Exchange some time next year, a spokesman told IBT. However, he denied reports in the daily Haaretz that the concern has long-term debts totaling ...
Bezeq going to TASE and other markets. (Israel Telecommunication Corp., Tel viv Stock Exchange) (Brief Article)
May 13, 1994 ... Bezeq -- The Israel Telecommunication Corporation will offer NIS 2 billion (approx. $667 million) worth of its shares on the Tel Aviv Stock Exchange and foreign stock exchanges, between August and November. The money raised will be used to increase equity capital, pay back debts to the ...
Singer Barnea to market SGST stocks in Israel. (Singer Barnea and Associates's contract with Societe Generale Strauss Turnbull) (Brief Article)
May 13, 1994 ... The Singer Barnea and Associates investment firm signed a far-reaching agreement with Societe Generale Strauss Turnbull (SGST), the international brokerage firm based in London. A company spokeswoman told IBT that Singer Barnea will act as SGST's exclusive representative in Israel and ...
Local and foreign groups seek control of Shekem. (Brief Article)
May 13, 1994 ... About 20 different groups of investors presented offers for the controlling interest in the government-controlled department store chain Shekem, before the deadline closed. Up for sale is a bloc of 35 percent of Shekem shares, worth an estimated $60 million. Among the interested ...
Combined index rises 1.9% in March. (Brief Article)
May 13, 1994 ... According to a Bank of Israel analysis of the combined index, economic activity in Israel rose again in March, mainly in the area of personal consumption. The index rose by 1.9 percent to 146.7 points. For the first quarter, the combined index gained a total of 3.8 percent versus a 2.1 ...
Azimut announces Afik-2000 for customizable control. (Azimut Software Industries) (Brief Article)
May 13, 1994 ... Azimut Software Industries has unveiled Afik-2000, software system for the modern process plant Company spokespeople said Afik-2000 is designed to provide a solution base for the information needs of factories, giving special attention to the current problems of every plant as well as ...
Ran Rad speeds up Macintosh communications. (Ran Rad Advanced Networks Ltd.) (Brief Article)
May 13, 1994 ... Ran Rad Advanced Networks of the Rad-Bynet group has unveiled a new card that speeds up by 600 percent the transfer of large files between Macintosh computers on Ethernet networks. The company said the system also works at a higher speed and lower cost than FDDI networks and does not ...
JAM version 6 features full graphics editor. (RTS Relational Technology Systems' JAM applications generator) (Brief Article)
May 13, 1994 ... RTS has announced version 6 of its JAM applications generator used to create a wide variety of applications in the UNIX open systems environment and client/server architecture. JAM, developed by JYACC (U.S.), is a fourth generation program used by about 50 major organizations and leading ...
StackNet 2000 latest from LanOptics. (joint development with Cisco Systems Inc.) (Brief Article)
May 13, 1994 ... The first fruits of last October's cooperation agreement between LanOptics [NASDAQ: LNOPF] of Migdal Ha'emek and Cisco Systems Inc are on the market this month. LanOptics has unveiled the StackNet 2000 line of stackable hubs, which spokespeople say is the only line on the market that ...
Computerized survey system from Aladdin Soft. (Aladdin Knowledge Systems) (Brief Article)
May 13, 1994 ... Aladdin Soft, a subsidiary of leading Israeli software company Aladdin Knowledge Systems, has developed a system for the design and execution of telephone surveys. Presented as an add-on to the Telemarket software, the program automatically dials the subjects and subsequently oversees the ...
Zion Insurance posts gain of $467,000. (Brief Article)
May 13, 1994 ... Following a 1992 loss of NIS 500,000 (approx. $166,700), the Zion Insurance company recorded a NIS 1.4 million ($467,000) profit for 1993. Similarly, parent company Zion Holding Corp., posted a 1993 gain of NIS 3 million ($1 million), compared to a loss of NIS 690,000 ($230,000) for 1992. ...
Elite profits tumble in 1993. (Elite Industries) (Brief Article)
May 13, 1994 ... Elite Industries registered a sharp 54 percent decline in profits in 1993, to NIS 18 million ($6 million) from NIS 39.4 million ($13.1 million) in 1992. 1993 Fourth quarter profits were NIS 4.9 million ($1.6 million) versus NIS 10.9 million ($3.6 million) in the same period in 1992. The ...
Paz Chen private placement. (Brief Article)
May 13, 1994 ... Jewelry manufacturer Paz Chen has raised NIS 22.5 million (apprrox. $L5 million) in a private placement. The company issued NIS 18 million ($6 million) worth of stocks, constituting approximately 14.5 percent of the company's equity before dilution, and NIS 4.5 million ($1.5 million) worth ...
Mutual funds take $2.3 B pounding in 1st quarter. (Israeli mutual funds) (Brief Article)
May 13, 1994 ... Assets of Israeli mutual funds fell by NIS 6.4 billion ($2.3 billion) during the first quarter of 1994, a decline of 17 percent, Meitav Investment Advisors reported. The Meitav survey showed the decline was due to falling prices, which accounted for NIS 4 billion ($1.3 billion) of the ...
Meir Ezra Group profit surge. (Meir Ezra & Son) (Brief Article)
May 13, 1994 ... The Meir Ezra & Sons food manufacturing group reported profit growth of 178 percent in 1993. About a third of the profits came from capital profits from purchase of companies and sock offerings on the capital markets. Unified sales figures for the Meir Ezra group totaled NIS 154 million ...