THE 1997 CADILLAC DEVILLE...
AN AUTOMOTIVE SPA ON WHEELS
Exports Rose
In October
Jerusalem (JPFS) — Exports of
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FARMINGTON HILLS
29709 GRAND RIVER
810-476-5757
WALLED LAKE
1705 W. MAPLE RD.
810-624-3060
Brazil Sells
Chemical Company
Jerusalem — The Israel Finance
Ministry's plans for additional
cuts to the 1997 budget do not in-
clude proposals to increase tax-
es, ministry spokesman Eli Yosef
said.
Finance Minister Dan Meri-
dor and senior Treasury officials
presented their recommenda-
tions for cutting an additional
$800 million from the budget.
Jerusalem — Makhteshim and
Agan, both subsidiaries of Koor
Industries, have each purchased
a 42.5 percent stake in Defenpar
Participacoes, a Brazilian com-
pany engaged in agro-chemicals,
for $19.8 million.
The purchase is in the frame-
work of the Makhteshim-Agan
group's strategy for intensifying
its presence in international mar-
kets in the agro-chemicals seg-
ment in an attempt to facilitate
sales to target markets.
Up until now, Defenpar was
owned by 14 agriculture cooper-
atives engaged in production of
agro-chemicals. A few senior De-
fenpar managers will continue
to hold about 10 percent of the
company's shares.
Defenpar is a holding compa-
ny mainly engaged in production
and marketing of crop-protection
chemicals, primarily through its
subsidiary Defensa-Industria De
Defensives Agricolas. Defenpar
is also engaged in production and
sale of veterinary, biotechnology
and other chemical products. The
company's 1995 sales turnover
amounted to $80 million, in-
cluding 30 percent to the export
market.
Kardan Fund
With Japanese
Super Dvora
Sold To India
Jerusalem — Kardan Ventures
announced the establishment of
a joint-venture capital fund be-
tween its Kardan Technology
subsidiary and the Long Term
Credit Bank of Japan.
The fund, which currently has
a base of $4 million provided by
Kardan Ventures, is expected to
reach a total of $50-70 million.
LTCB has said it will raise $15
million — $20 million from
Japanese blue chip companies
within the next three months.
The fund will provide funding
for Israeli biotechnology and
high-tech companies.
Jerusalem — Israel Aircraft In-
dustries and an Indian company
have signed an agreement for the
sale of the Super-Dvora II to the
Indian Navy, executives said.
In a contract signed by the In-
dian Navy, IAI's Ramta division
will manufacture, along with Goa
Shipyard, the attack aircraft.
Goa is part of the Indian consor-
tium Vasco de Gama.
Ramta manager Natan
who did not disclose the amount
of the contract, said the deal
marks a turning point. "This is a
breakthrough for the sale of the
Super-Dvora to India and IAI
and Ramta expect this will lead
to other sales to the Indian Navy
and its coast guard," he said.
The Super-Dvora II is built for
round-the-clock coastal surveil-
lance and reconnaissance, rescue
operations and transport of com-
mando forces. It serves in six
navies worldwide, including the
No Plans
To Raise Taxes
*GMAC SMARTLEASE 36 Mos. First Pymt, Ref. sec. dep. of S600. Down payment as shown above, plate or transfer fee due on delivery. State & lux. tax additional.
Mile limitation of 36,000. 15c per mile excess charge over limitation. Lessee has option to purchase at lease end. Sedan DeVille $21,628. To get total payments,
multiply payment by number of months.
If traveling west on 1-696, exit Hoover, follow Service Drive to RINKE.
If traveling east on 1-696, exit Van Dyke; take to second bridge past Van Dyke over expressway to RINKE.
Israeli goods increased at an an-
nual rate of 20 percent in Octo-
ber, after increases of 18 percent
and 14 percent in September and
August, according to israel's Cen-
tral Bureau of Statistics.
Economic activity and exports
grew and there were signs of a
slowing in consumption during
September and October, accord-
ing to a collection of economic in-
dicators published by the CBS.
This is the second bimonthly
collation of figures indicating a
possible reversal in the Israeli
economy's slowdown.
Industrial production in-
creased by an arml iAl 5-6 percent,
in comparison to the 3-4 percent
registered from March to June.
Israel's Cost of Living Index
has slowed since May. In Octo-
ber, the index recorded an an-
nual inflation rate of 4 percent.
The shekel exchange rate
against a basket of currencies
rose 10 percent in the last two
months after reductions in July
and August.
ernment's so-called options pro-
gram, deputy-spokesman Ofir
Akoonis confirmed.
Until now it was understood
the program, which involves dis-
tributing to the public free vouch-
ers that could ultimately be used
to purchase shares in firms that
stand to be privatized, was not
favored by Prime Minister
Binyamin Netanyahu.
Privatization
Still Viable
Jerusalem — The Israel Prime
Minister's Office currently is ex-
amining which companies it can
privatize by using the Labor gov-
Israel Navy.