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July 29, 1994 - Image 41

Resource type:
Text
Publication:
The Detroit Jewish News, 1994-07-29

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

N

YOU CAN AFFORD
$1,000,000 LIFE INSURANCE

TAAS-Israel's
Task Begins

Your Premium Guaranteed To Stay The Same For The First 10 Years

TAAS-Israel Industries (TAAS)
held a festive ceremony in
Jerusalem to mark the supply of
the first 50 Tactical Air Launched
Decoys (TALD) to the U.S. Navy.
Officials of the U.S. Navy, Mc-
Donnell Douglas, the Lockheed
Corporation, the American Em-
bassy and members of the Knes-
set finance committed
participated in the event at
TAAS' Netz plant.
The $22 million deal for the
supply of 1,500 TALDs is sched-
uled to be completed by October
1995. Under the contract, TAAS
is obligated to supply 100 TALDs
a month.
TAAS's TALD system confus-
es enemy anti-aircraft, allowing
aircraft to reach their objectives
while significantly reducing or
eliminating loss of life and air-
craft.
Despite plans to close the Netz
plant, the factory received a $4.5
million order last week from Mc-
Donnell Douglas for the produc-
tion of an item which is
exclusively at the plant.
A month ago, the Knesset fi-
nance committee ordered TAAS
to freeze all plans for closing Netz
until a thorough examination is
made of the matter.

Defense Losses
Dwarf Profits

Israeli government companies
lost NIS 1.27 billion last year as
the defense industries' NIS 2.33
billion loss dwarfed the NIS 1.06
billion in profits of other indus-
tries, according to the Govern-
ment Companies Authority
annual report.
The most profitable companies
included the Israel Electric Cor-
poration with MS 285.3 million
in profits, Bezek with NIS 282.7
million, Oil Refineries with MS
142.5 million and Israel Chemi-
cals with NIS 111,8 million.

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count is the first Israeli bank to
sign a commercial agreement
with Turkmenistan.
The five-year agreement is in-
tended to finance Merhav (MNF)
export of agriculture products
and equipment. The Israeli com-
pany has commercial agreements
with the authorities in Turk-
menistan.

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