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March 01, 1996 - Image 57

Resource type:
Text
Publication:
The Detroit Jewish News, 1996-03-01

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

Israel Aircraft
Signs Deals

Jerusalem (JPFS) — Israel Air-
craft Industries has signed con-
tracts to develop communications
for two Eastern European coun-
tries, executives said.
In one deal, lAl's electronics di-
vision won a contract to develop a
modern communications system
in the Pila region of northwest
Poland. Executives said the con-
tract is with a European consor-
tium for which IAI will plan for
optical cables, as well as data re-
lay and broadcast stations.
IAI also signed a contract with
Hungary for the development of a
commercial communications satel-
lite. IAI director Moshe Keret said
the signing was the firm's first
achievement in entering the world
satellite market after years of de-
velopment. Keret expressed hope
that local communications satel-
lite Amos will be launched in the
coming months.

WHEN You INVEST
YOU'RE BEGINNINGA
PROCESS THAT WILL
INVOLVE SEVERAL STEPS.
BUT NONE ARE
BIGGER THAN THE
ONE YOU TAKE
TO MEET:

DAN I. BARISH
VICE PRESIDENT
REGIONAL SALES MANAGER

For most people. investing is one of the biggest

financial steps theyll ever lake. So its important that you get

the best advice you can. as early as you can, on just how to

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(810) 948-2902. You'll gel off on the right Foot.

and an aRiliale of Comerica

REPUBLIC
M.\ BANK
Grosse Pointe

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WE Lis I LN.WE UNDERSTAND
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INTRODUCING THE CHAT PAK:

Phone Banking
Services Bought

Jerusalem (JPFS) — Jerusalem-
based Encotone announced it has
received an order from Spanish
bank La Caixa for 500 units of its
TelelD acoustic identification and
authentication device. This initial
order will be used in the first stage
of La Caixa's computer-banking
service. The second stage will ex-
tend the system to all computer-
banking customers, about 50,000
institutions.
Once a phone-banking service
is put into operation, customers
will be able to conduct transactions
by phone. La Caixa is expected to
equip 500,000 customers with
TeleID units over the next three
years.

5

DIAMOND INVESTMENT ACCOUNT

handle things. That why Dan and everyone at Comerica

Stakes Bought
In Herbitechnia

Jerusalem (JPFS)—Agan Chem-
icals and Makhteshim Chemical
Works announced they will pur-
chase a 49 percent stake in Her-
bitechnica, a Brazilian pesticide
distributorship, for $20 million.
Makhteshim owns 47 ofAgan's
outstanding capital share. Her-
bitechnica's turnover in 1995 was
$60 million, with turnover this
year expected to increase to $80
million.
Through subsidiaries, Agan
and Makhteshim will purchase 49
percent of the distributorship, in
equal parts, from its present
shareholders in return for a $20
million cash payment.
If 1995-1996 profits rise more
than $12 million, the partners will
pay an additional sum of not more
than $2.45 million.

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