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February 04, 1994 - Image 41

Resource type:
Text
Publication:
The Detroit Jewish News, 1994-02-04

Disclaimer: Computer generated plain text may have errors. Read more about this.

Business

A Sale of Olympic Proportions

"Go For The Gold"

Histadrut
Threatens Strike

The Histadrut last week de-
clared it will begin disruptions
in the economy — including a
general strike — unless the gov-
ernment revokes its intention
to pass a Free Export Process-
ing Zone law in the Knesset.
Histadrut Secretary-Gener-
al Haim Haberfeld said at the
Histadrut's executive commit-
tee meeting that the bill, in its
present form, will cause grave
damage to the workers by wors-
ening their employment condi-
tions and their ability to
organize.
The main supporters of the
FEPZ bill are Prime Minister
Yitzhak Rabin, who was deeply
impressed by such zones on his
recent visit to China, and Fi-
nance Minister Avraham
Shohat, who thinks the law will
attract investors to Israel.
Mr. Haberfeld told the com-
mittee the first to be hit by the
FEPZ legislation will be the tex-
tile and lumber industries, fol-
lowed by all the other fields,
including the technological in-
dustries.

Applied Electronics, which
reports its sales reached more
than $400 million in 1993, said
it was ready to fund the Petah
Tikvah R&D center's activities
with up to $40 million.
AQI will focus on finding
new ideas and patents in the
home and personal electronics
field in an attempt to turn them
into products the parent com-
pany can sell through its sub-
sidiaries.
Israel was chosen as the
R&D center because of its qual-
ity manpower in electronic in-
dustries, said AQI general
manager Baruch Levanon.
Applied Electronics is based
in Hong Kong and has produc-
tion facilities in China.

Motorola
Sales Increase

Motorola Israel reported last
week that its sales jumped 31
percent to $532 million last year
from $405 million in 1992.
Export sales for the elec-
tronics and communications
concern rose 36 percent to $172
million from $131 million. The
Israel subsidiary is considered
one of the most important ele-
ments of the worldwide orga-
nization, according to Motorola
Israel general manager Hanan
Achsaf.
During the past year, Mo-
torola moved most of its pro-
duction elements to its Motorola
South plant in Arad, which man-
ufactures cellular phones for the
local market and other wireless
telecommunications equipment
for the parent company.
Last year the factory was the
recipient of the parent compa-
ny's world-wide quality award
and received an order for com-
munications equipment worth
more than $160 million from
United Parcel Service, the
American package carrier.

Electronics Firm
Funds Research

Hong Kong's Applied Electron-
ics said this week it is making
its new Israel subsidiary, Ap-
plied Quorum Israel (AQI), the
center of the electronic goods
manufacturer's research and
development programs.

Delta Galil Signs
L.A. Gear

Delta Gslil Industries, Israel's
largest textile firm, has signed
an exclusive agreement with
the the U.S.-based L.A. Gear
representative in Israel to man-
ufacture and produce sport and
fashion collections under the
L.A. Gear brand name.
According to the agreement
signed with the LA gear own-
ers last week, the collection to
be manufactured will include
sport shoes, polo shirts, T-
shirts, undershirts, trousers
and aerobic sport clothing.
Delta plans to market the
sport collection in its shops and
distribution networks and sell
part of the collection to L.A.
Gear representatives world-
wide.

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Lapidoth Works
With Palestinians

Lapidoth Israel Oil Prospectors
Corporation announced last
week it is planning to create a
joint venture with Palestinians
for the establishment of an oil
drilling firm in the territories.
Lapidoth said discussions
have recently become more in-
tensive.
Company secretary Bezalel
Lavi said the proposed project
would have an investment of
between $7 million and $10 mil-
lion, which is the cost of drilling
a well.
The company will consider
drilling wells for water as well
as for oil. Mr. Lavi said the com-
pany is considering setting up
a joint venture with interna-
tional firms to drill for oil and
gas in Jordan.
Lapidoth is the sole owner
of portable drilling equipment
used in Israel. The firm recent-
ly acquired its fourth set of
drilling equipment, which is ex-
pected to arrive from the U.S.
in April.

ns

David Wachter

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