Chamber of Commerce of Michigan
bank and practically no debt.
It is the very model of a fast-
growing, high-tech company. But
there are a few little clouds on the
horizon. Few fields as lucrative as
this are left to one player for very
long, and indeed the first signs of
competition have appeared.
Hewlett Packard, the king of
desktop printers, has unveiled an
inexpensive ($7,295) color desk-
top laser printer that offers near-
ly the same quality as the Fiery,
while Canon also is developing a
Sooner or later these are bound
to take some market share from
Efi and have some impact on its
margins, though Efi is launching
an upgraded line, dubbed the
XJ7, to try to maintain its lead
over the competition.
Mr. Arazi says he may use
some of the company's cash pile
for acquisitions, something that
has tripped up Israeli companies
in the past.
Many of them have been un-
able to manage businesses sev-
eral thousand miles away from
their Israeli base. Mr. Arazi has
the advantage of being located in
the United States. Nonetheless,
diversification is difficult at the
best of times.
While Efi may continue to
prosper, that is no guarantee that
its share price will continue to
When the stock market has de-
cided that a company's prospects
are just a little bit less rosy than
they were before, the shares of
even the most successful and the
most promising have been sav-
aged. It may be salutary that,
since Efi went public, Mr. Arazi
has himself progressively sold
shares as the price has risen, off-
loading close to a million shares
to date and realizing close to $20
million in cash.
Having seen Scitex's share
price crumble, Mr. Arazi is clear-
ly aware that investors' love af-
fairs with high-tech companies
are often whirlwind romances
rather than long-tet in relation-
This may be useful advice for
his co-investors. El
U.S. Commerce Secretary Ronald
Brown and Israel Transportation
Minister Yisrael Kessar an-
nounced a $17.8 million tender
award by the Israel Airport Au-
thority to TRA Architecture En-
gineering for a terminal at
Two other U.S. firms also won
contracts — Skidmore, Owings
and. Merrill won a $15.9 million
contract for another terminal and
Parsons Brinkerhoff was award-
ed a 84.9 million contract for park-
ing, roadway and infrastructure
at the airport.
Profits Through Networking Opportunities
+ Serving the Needs of Business
on Both Sides of the Ocean.
+ Programs Throughout_
• Breakfast Speaker Forums
• Quarterly Networking Receptions
• Annual Trade Award Dinner
• International Trade Seminars
+ Conduit to Regional Chambers
& National Chambers.
+ Promoting Business & Profits
in Industry, Technology and
+ Information & Referral Source.
+ Export and Import Advice.
For membership or program information, please contact the Chamber office.
6 600 West Maple Road West Bloomfielc4 MI 48322
Telephone (810) 661-1948
Fax (810) 661-1730
Watch for our Annual Dinner on March 19, 1995
at the Somerset Collection, Troy.
Our Guest of Honor will be GAD JACOBY,
Israel's Ambassador to the United Nations.
MICHAEL H. TRAISON, PRESIDENT
MICHAEL ARLOW, VICE PRESIDENT
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