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December 06, 1996 - Image 56

Resource type:
Text
Publication:
The Detroit Jewish News, 1996-12-06

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

AUDETTE

Holiday Shopping
Iladc Easy!

Elbit Centers
In India

Jerusalem (JPFS)— Elbit Med-
ical Services and the Dr. Reddy's
Group of India announced the
formation of a joint venture, El-
bit International Medical Center
Ltd.
Dr. Reddy's is a manufactur-
er of bulk drugs and exports
penicillin. Elbit Medical Services
is a division of the Haifa-based
Elbit holding company and op-
erates about 30 medical centers
around the world.
The new firm initially will fo-
cus on setting up a chain of med-
ical centers equipped with a
range of diagnostic and thera-
peutic equipment.
The first center, which will
cost $6 million to set up, will open
in the southern Indian city of
Bangalore under the name Elbit
Diagnostic.
The company intends to build
a chain of similar labs and plans
to invest $80 million over a three-
year period.

1997

In Stock Now!

Compedia Signs
Asian Deal

Jerusalem (JPFS)— Compedia,
a maker of educational software,
signed distribution agreements
with Synforest of Japan and
Compedia Korea of South Korea.
According to the terms of the
agreement, the two companies
will market Compedia's Itamar
and Gordy product lines.

Priced From s29,995°°
Well Equipped

WE COME TO YOU ... MOBILE AUTO GLASS & GLAZING SERVICE • 50 MILE RADIUS INSURANCE REPLACEMENT SERVICE

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Ormat Industries
Goes Private

Jerusalem (JPFS) — Ormat In-
dustries will become Israel's
fourth private electricity gener-
ator, the company announced.
The Yavne-based alternative
energy systems manufacturer
and exporter will produce 30
megawatts of electricity, follow-
ing an agreement with the board
of directors of the Israel Electric
Corporation.
Ormat will operate a new oil-
fired power station in the Negev
in a deal worth $50 million, ac-
cording to the IEC.
The station will be the first in
the private sector to be built us-
ing Israeli technology alone.

Egged, Dan
Get Competition

Jerusalem (JPFS) — The process
of ending the Egged and Dan
transportation companies' mo-
nopoly will begin before the
year's end, said Israel Transport
Ministry Director-General Na-
houm Langental.
Mr. Langental also said El Al's

privatization cannot begin while
the company is in "its current fi-
nancial situation."
The law governing the opera-
tion of Egged and Dan is likely
to be one of those targeted for
amendment as part of the gov-
ernment's structural reform pro-
gram.
Prime Minister Binyamin Ne-
tanyahu and Finance Minister
Dan Meridor have made no se-
cret of the fact they intend to re-
form the transportation sector.
They want to open the bus com-
panies to competition, probably
through privatization.

Semiconductor
Buys Two Firms

Jerusalem (JPFS) — Applied
Materials, the California-based
world leading producer of wafer
fabrication systems and semi-
conductor service provider, an-
nounced it is entering the
metrology and inspection equip-
ment market through the ac-
quisition of Ness Ziona-based
Opal Inc. and Yavne-based Or-
bot Instruments, for $285 mil-
lion in cash.
The transaction marks one of
the largest transactions ever
conducted in the Israeli high-
tech field. The three companies
commenced negotiations about
one year ago.
Applied Materials will pur-
chase the Opal, a Clal Elec-
tronics subsidiary which
operates its R&D operation in
Israel, for about $175 million,
and Orbot Instruments for ap-
proximately $110 million. The
company's move is part of a
long-standing global strategy
aimed at providing diverse en-
abling technology which can eco-
nomically manufacture new
generations of advanced semi-
conductor devices, explained
CEO and Chairman James
Morgan.
Opal, which is expected to end
this year with $60 million in
sales and $12 million in profits,
is engaged in the development,
manufacture, and supply of
high-speed automatic wafer
metrology systems used by
semiconductor makers to verify
critical dimensions during the
production of integrated circuits.
These measurements help
manufacturers maximize and
sustain the yields of integrat-
ed circuits at the highest per-
formance levels attainable by a
production line.
Orbot Instruments, which is
expected to end this year with
$43 million in sales and $10 mil-
lion in profits, develops, manu-
factures, and services automated
optical inspection systems for
use in the production of semi-
conductors, such as wafer and
reticle inspection systems with
leading-edge technologies.

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