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Five Companies
Are Honored

The Israel Manufacturers Asso-
ciation has announced the five
recipients of its annual industry
prizes. They are Luxembourg In-
dustries, Phoenicia America-Is-
rael, Taal Manufacturers of
Plywood, Polgat Industries and
Shefa Protein Industries.
Luxembourg Industries chair-
man Avraham Luxembourg was
chosen for the Pinhas Sapir
award for his contribution to the
development of the Israeli chem-
ical industry and the Negev,
growth of the Arad-based firm
and the absorption of new im-
migrants.
Oded Tira, president of
Phoenicia America-Israel, won
the Israel Lichtenstein prize for
his contribution to the develop-
ment of the Israeli glass indus-
try, successful turnaround of
Phoenicia and introduction of
new technologies.
Zeev Frenkel, managing di-
rector of Taal, was chosen to re-
ceive the Eliahu Promchenko
award for his activities in the
wood industry and for his man-
agement and marketing skills.
Mordecai Baron, managing di-
rector of Polgat, received the Zal-
man Suzaib Prize for his
successful restructuring of Pol-
gat and public work.
Ronit Scliar, managing direc-
tor of Shefa Protein, was chosen
for the Ida Zeidler Prize for her
contribution to the development
of the company, initiative, man-
agement skills, relationship with
the workers and public work.

Israel 2000
Has Arrived

Israel General Bank and the La
Compagnie Financiere Banque
of France, both of the Edmond
de Rothschild group, have
launched a $100 million fund
which will invest its assets in the
capital market in Israel.
Israel 2000 is an open-ended
trust fund registered in Luxem-
bourg. The chairman of the fund's
board of directors is Edmond's
son, Benjamin de Rothschild.
The Israeli capital market is
very attractive for investments
despite the recent crisis, ac-
cording to Roger Cukierman,
managing director of the Paris-
based La Compagnie Financiere
Edmond de Rothschild Banque
and deputy chairman of the
board of Israel General Bank.
"The European and American
markets are not very exciting,"
he said. "Europe's growth rate
is close to zero. The United
States' growth rate is higher, but
not exciting. The only place in
the world experiencing growth
is Asia, and Israel's GNP growth
is close to Asia.

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354-4111

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