soap and shampoo. The compa-
ny's sales last year totaled some
$40 million.
Shemen Chairman Alex Fer-
ling said Henkel-Soad will con-
tinue to market Soad's products
in Israel and in neighboring coun-
tries. In addition, the company
will be the sole local manufactur-
er and distributor of Henkel prod-
ucts. Ferling predicts the new firm
will double sales by 2000.
Benny Gaon, CEO of Koor in-
dustries, Shemen's parent com-
pany, said the agreement is part
of the group's strategy to cooper-
ate and sign partnership agree-
ments with leading international
companies.
InterPharm Will
Buy Back Shares
Jerusalem (JPFS) — After two
years of litigation, a New York
federal court has preliminarily ap-
proved a settlement that will al-
low Ares-Serono, a Geneva-based
pharmaceutical company, to buy
back its shares in its Israel-based
bio-tech subsidiary, InterPharm,
the company recently announced.
The decision will give share-
holders who did not tender their
shares an opportunity to sell them
at $26 per share and is offering
an additional $3 to those who sold
their shares pursuant of the 1994
tender offer.
The tender was put on hold fol-
lowing a shareholder-filed civil-
action suit against Ares-Serono
for improperly conducting its plan
to privatize InterPharm.
Since the case went to court,
stocks in the company, which
went from being traded on NAS-
DAQ to being traded on the Pink
Sheets, have remained stagnant
at about $13 per share.
In 1994, Ares-Serono decided
to revert to its private status,
which, due to the proprietary na-
ture of the information in the
highly competitive pharmaceuti-
cal industry, would make operat-
ing the subsidiary easier, a
company spokesperson said.
InterPharm develops the ac-
tive ingredients used in medica-
tions which Ares-Serono then
finishes and markets.
The settlement is contingent
upon current shareholders' agree-
ment to sell their remaining
stocks and final court approval af-
ter a hearing to be held in August
at a United States district court.
Egypt-Israel
Gas Line
Jerusalem (JPFS) — Italy's state
gasoline company wants to invest
in the construction of a natural
gas line between Israel and Egypt.
The company, EM, is the world's
largest firm for the use and dis-
tribution of gas and petroleum for
industrial purposes.
A company representative ex-
pressed interest in such a project
at the Bi-National Italy-Israel
Conference on natural gas held
recently at Haifa's Technion.
The conference was held due to
contacts between the Technion
and its Milan counterpart. Since
last year, the two institutions
have exchanged lecturers and stu-
dents, Italian and Israeli indus-
tries have also joined forces in
joint applied-science research.
An ENI representative in
Egypt said his firm buys natur-
al gas from Algeria, Russia and
Egypt and would like to bring its
experience to Israel. He said he is
aware the Energy Ministry al-
ready has a plan to import nat-
ural gas from Egypt via a pipeline.
EM hopes the gas conduit will be
"a pipeline of peace."
Teledata Wins
Large Contract
Jerusalem (JPFS) — Teledata
Communications announced it
has received a $3.3 million order
for its CTLOOP Pair Gain Sys-
tem from an undisclosed Euro-
pean customer.
The CTLOOP system increas-
es telephone companies' capacity
by using technology that allows
the companies to simultaneously
transfer 10 calls over the same
pair.
After an intensive bidding
process, the Herzliya-based com-
pany, whose main international
competitors include ECI and
Philips, was awarded the contract.
"All the telephone companies
use this type of solution," said
Shmuel Arvatz, CFO of Teleda-
ta, adding that overall customer
satisfaction with Teledata's net-
work access solutions has helped
to enhance sales.
Optional Interiors!
Optional Colors!
Optional Finishes!
Sale $
Priced
From
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9
• Create your own contemporary
and sophisticated storage wall.
• Choose from white, almond
and black case colors.
• Door fronts in your choice of
plain and bevel mirror, white,
black and almond high gloss
lacquers and natural birch,
travertine, grey birch, honey
maple, mahogany, green birch
and black marble faux veneers.
Delivered in six weeks direct from the factory to you!
hillside
FURNITURE
WE'RE FIGHTING FOR
YOUR LIFE
American Heart
Association
Few Directors
Are Women
Jerusalem (JPFS) — Fewer than
10 percent of the directors of pub-
lic companies in Israel are women,
according to a survey of 700 firms
conducted by the Manufacturers
Association.
The research was carried out
prior to an association meeting
which will be devoted to the ap-
pointment of women to company
boards.
The study, conducted in con-
junction with sociologists at the
Hebrew University of Jerusalem,
suggests that half of the women
directors are major shareholders
with a family interest in the firm
they head.
Most women in directorial
posts tend to be Ashkenazi and
from the middle classes.
According to the survey, many
chose their career to fulfill their
aspirations and to gain a sense of
security.
--
WE TAKE EXCEPTION
TO WHAT YOUR
MOTHER TAUGHT
YOU.
YOU SHOULDN'T EAT
EVERYTHING PUT IN
FRONT OF YOU.
You should avoid foods high in
cholesterol. It's a fact, a high
blood cholesterol level sub-
stantially increases your
chances of developing heart
disease. By cutting down on
fatty, rich foods, you can do
yourself a big favor. You could
lower your blood cholesterol
level and reduce your risk of
heart disease.
For more information about a
planned and balanced diet,
contact your American Heart
Association. We'll give you
some free advice on how to
plan a diet good for life.
Woodward Ave. @ Square Lk. Rd. (810) 334-4745
Monday, Thursday, Friday, 10-9
Tuesday, Wednesday, Saturday, 10-5:30
Sunday, Noon-5
Robert Alexander Jewelers
Sizzling Summer
Sale!
We need to make room for all
the new merchandise arriving this fall!
Fantastic Savings!
Up to 40% off
ec
This is the sale you can't afforcho miss!
Sale Ends July 31st.
Northwestern Highway, Farmington Hills, Michigan 48334
Robert ALEX ANDER 32419
Located between Middlebelt and Fourteen Mile Road
1—
Jewelers
810.855-0040 Hours. Mon Tues., Wed., Fri. 10-6, rrturs. III-8,SM. 10-5
A Third Generation of Quality and Tradition in Diamonds mid Diamond Jewelry passed down from Norman Allan