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 -:4vsko 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