E ORE
WLwA
fiys
BUYING

SILVER COINS
GOLD COINS

Purchase Cuts
Into Profits

Israeli company Scitex has re-
ported a 32 percent drop in third
quarter net profits to $12.2 mil-
lion from the $18 million it
earned in the same period last
year.
In September, the company
acquired the California-based
ImMIX, a leading vendor of non-
linear video editing systems,
heralding Scitex's expansion into
the field of visual information
communication.
Without the acquisition
charges, the company said, it
would have reported third quar-
ter net profits of $18.1 million.

Risk Coverage
Is Extended

The Israel Foreign Trade Risk
Insurance Company (IFTRIC)
will extend its political risk cov-
erage to a ceiling of 70 percent of
export transaction amounts to
high risk countries, the Treasury
announced.
Under such transactions, the
partner from the importing coun-
try must put down 15 percent of
the amount.

U.S. Firms Eye
Koor Shares

Two U.S. companies have ex-
pressed interest in purchasing
Hevrat Ha'ovdim's holdings in
Israeli conglomerate Koor In-
dustries, according to a Hevrat
Ha'ovdim source.
Hevrat Ha'ovdim, owned by
the Histadrut, has 21 percent of
Koor's shares. The source said the
U.S. companies have informed
several Hevrat Ha'ovdim officials
of their intentions, but Hevrat
Ha'ovdim has not yet started to
negotiate the purchase.
Koor's major shareholder is
Bank Hapoalim, which has a 25
percent stake in the company.

Export Earnings
Take A Dive

9

Israel Manufacturers Associa-
tion economic division head Hezi
Gutman said export earnings in
the country are at their lowest
levels in five years.
In a survey of 200 firms con-
tacted by the association, 55 per-
cent reported a drOp in export
profitability in the August to Oc-
tober period, while 34 percent re-
ported a drop in earnings.
Almost half the companies
surveyed reported a rise in do-
mestic market sales and 44 per-
cent said there was a rise in
exports, due mainly to export or-
ders received previously.

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1995 325iA BMW

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1995 5251A BMW

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ERHARD
BMW
642-6565

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OPEN MON. &
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UNTIL 8:00 P.M.

