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L'OREAL page 41
When asked when he would
view the company's boycott as be-
ing over, Mr. Schumer replied,
"Well know it when we see it."
The issue of L'Oreal compli-
ance with the boycott has made
headlines recently in part be-
cause of a suit brought in the
United States earlier this year
against the company by a French-
Israeli businessman, Jean Fryd-
man.
In his $100 million lawsuit,
Mr. Frydman echoed charges he
first brought in France in 1989
that he and his brother were oust-
ed from a joint venture with a
L'Oreal executive in order to ap-
pease the Arabs.
Mr. Frydman took out a full-
page advertisement in the New
York Times last month detailing
the charges against L'Oreal, and
the case has been the subject of
major news articles in Business
Week, the Washington Post and
Newsweek.
The Frydmans lost their crim-
inal case in France, but a subse-
quent French government
investigation found that L'Oreal
did, in fact, comply with the Arab
boycott.
The French media also turned
the spotlight on the company's
Nazi ties. Jacques Correze,
chairman of L'Orears Helena Ru-
binstein unit, resigned in 1991 af-
ter French papers publicized his
1948 conviction for wartime
crimes.
L'Oreal made its first step to-
ward reconciliation with Israel
this past May, with a $7 million
investment in its Israeli distrib-
utor, Interbeauty.
In July, L'Oreal pledged $1
million to help finance a cam-
paign to stamp out the high rate
of road accidents in Israel.
Later that month, the Wiesen-
thal Center and the National Coun-
cil of Jewish Women joined
Schumer and Nadler at a rally in
New York, where the congressmen
called for a boycott of L'Oreal.
The groups also called for the
Commerce Department's Office
of Anti-Boycott Compliance to
step up its ongoing investigation
of the company's American sub-
sidiary, Cosmair. Officials at the
Commerce Department refused
to comment on the investigation.
The Jewish groups that par-
ticipated in the rally later dis-
tanced themselves from Mr.
Schumer's call for a boycott, but
nonetheless maintained that
L'Oreal was still in compliance
with the boycott.
In preparation for its new push
in Israel, L'Oreal is now putting
the final touches on four new Is-
raeli projects.
According to Mr. Valeriola, the
L'Oreal executive, the company
plans to invest $3 million to $4
million in an Israeli distribution
company, independent of its in-
vestment in Interbeauty.
L'Oreal also plans to import to
France from Israel at least
$500,000 worth of jojoba oil a year
for use in the manufacture of
shampoo products.
L'Oreal will also enter into a
research and development coop-
erative with Hadassah Hospital
for three studies on product de-
velopment.
"We are always trying to invest
for the future and Israel is pre-
cisely that possibility," Mr. Vale-
riola said.
Other forms of cooperation
with the Israeli public will include
scholarships to study in France
and internship opportunities, he
said.
When asked if the company
has heard from the Arab boycott
Authorities since its May invest-
ment in Israel, Mr. Valeriola said
there have been "no questions
and no comments. Maybe I
should say not yet."
He added, "But we are devel-
oping our business without any
consideration of contacts from
other countries."
A Revolution
In Blood Sugar
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3160 Haggerty Rd. • West Bloomfield • 48323
The Haifa company Cannel
Biotechnology and the U.S. firm
W.R. Grace are developing a "rev-
olutionary" device for measuring
blood sugar levels without the
need for a blood sample.
The device, which should be
ready for marketing in two years,
is based on capsules implanted
under the skin. The capsule
transfers data on blood sugar to
a monitoring device outside the
body.
Professor Yoram Palti, presi-
dent of Carmel Biotech, which in-
vented the technique, says 5
percent of the world's population
suffers from diabetes; there are
more than 200,000 diabetics in
Israel.
Carmel is reluctant to provide
more details because the tech-
nology has yet to be patented.
The company, established only
last year to develop and produce
the blood-sugar monitor, has 10
employees.
W.R. Grace is a giant firm with
tens of thousands of workers and
an annual turnover of $4.5 bil-
lion.
The project is being financed
in part by the U.S.-Israel Bi-Na-
tional Industrial Research and
Development (BIRD) Founda-
tion.