IF YOU
WANT TO EARN BIG,
THINK SMALL.
maceuticals with sales of
$176 million and Scitex ($159
jJ million in sales), with a con-
L, trolling interest recently
bought by British press
magnate Robert Maxwell.
Their computerized imaging
systems have revolutionized
press printing. Luz In-
dustries, with an annual in-
come of $61 million, makes
solar equipment for produc-
e ing electricity and has been
awarded many large contracts
in California.
Israel's largest foreign-
owned company is Motorola
Israel Limited. Dun and
r- Bradstreet list the company
I
in 13th place. Another
r- foreign-owned company,
Readymix Israel Limited
part of the British based RMC
Group — was Israel's fastest
growing company, with sales
of $50 million.
The country's largest con-
glomerate is Koor Industries
Limited, with an annual in-
come of $2.3 billion. Its in-
terests include chemicals,
foods and electronics, and its
importance to the Israeli
economy is such that its pre-
sent liquidity crisis will be
one of the government's top
priorities.
Outside of the manufactur-
ing sector, Israel's best known
companies are its banks.
Bank Hapoalim, owned by
the Histadrut, is now the
country's largst bank, with
assets totalling $30.6 billion.
Bank Leumi, nominally own-
ed by the Jewish Agency, has
assets of more than $26
billion, while Israel Discount
Bank has assets of $14
billion.
In the service sector, the Paz
Oil Company recorded sales
of $875 million. Paz became
the first government company
to be sold as part of Israel's
privatization program when
it was acquired by an
Australian businessman for
$480 million.
The Bezek telephone com-
pany registered an annual in-
come of $687 million, while
the country's other two oil
companies have impressive
returns — Delek, $510
million, and Sonol, $420
million. In transportation,
Zim Navigation, now among
the world's top 10 freight
shipping lines ($800 million)
and El Al ($567 million)
showed handsome profits.
The aforementioned statis-
tics give only a small insight
into Israel's highly successful
and sophisticated commercial
sector and show a side to the
country not often seen by
Diaspora Jews, most of whom
think of Israel in terms of sen-
timent rather than
business. ❑
World Zionist Press Service
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Esther Allan
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THANK YOU
To the following individuals for their generous support of the
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WISHING YOU A VERY PEACEFUL, HEALTHY, AND HAPPY NEW YEAR
E3tq-L,
Norman Allan
Scholarship Committee
Fred Ferber
Lenore B.Feinberg
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