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Tecnomatix
Signs With Mazda
Jerusalem (JPFS)— Tecnomatix
Technologies Ltd. recently an-
nounced that it has completed its
largest deal to date, a $10 million
contract to sell Mazda Motor Cor-
poration its computer-aided pro-
duction engineering products
(CAPE).
According to the agreethent,
Mazda will purchase over 100
software licenses as well as engi-
neering and maintenance services.
Valued at approximately $7.6 mil-
lion, the software includes a host
of programs that allow engineers
to design and test cars in a corn-
puterized virtual environment.
The contract includes a previous-
ly announced $2 million order.
The deal represents car manu-
facturers' need to manufacture
better cars more quickly, said
Harel Beit-On, Tecnomatix's
CEO.
Israel Budget
On The Internet
ond round of funding of the Polaris
II venture-capital fund, the in-
vestment management fund an-
nounced.
So far, the fund has raised a to-
tal of $82 million from foreign and
Israeli investors. The fund man-
agers are in -advanced negotiations
with foreign pension funds in an
attempt to raise an additional $30
million. Conclusion of the trans-
action is subject, among other
points, to reaching an arrange-
ment with the tax authorities
whereby the funds will be exempt
from tax in Israel.
The Dovrat Shrem Group es-
tablished the Polaris Fund II
about five months ago, together
with the investment bank Cowen
& Co, and the Travelers Group
Inc., a financial services holding
company. The fund intends to in-
vest in technology intensive com-
panies with a high growth
potential, mainly in the areas of
communications, software, so-
phisticated medical equipment,
electronics and biotechnology.
The fund recently made its first
investment of $2.5 million in
Backweb, a company engaged in
the Internet field. The investment
was made through a private issue
of $13 million together with U.S.-
investment bank Goldman Sachs
and other investors.
In addition to Dovrat Shrem,
the funds' investors include Clar-
idge Israel, BEA, Arisori Invest-
ments, Teva, Bank Leumi, Ormat
and Delek Investments.
Jerusalem (JPFS) — The Israeli
government's proposed 1997 bud-
get is on the Internet for all to see
— and query.
Internet subscribers may send
in queries about specific sections
of the budget according to topics,
names, numbers, ministries or the
relevant budget book. The budget
was put on the computer network
by the information systems
branch in the Finance Ministry
Accountant General's Office.
The budget material joins ex-
isting Treasury information on the Jerusalem (JPFS) — Union Bank
Internet, including that of the se- of Switzerland, one of the world's
curities branch and the interna- most prominent financial insti-
tional branch. They all can be tutions, has upgraded its evalu-
reached by keying in ation of Bank Leumi's stock to a
"buy" recommendation from its
http://www.mofgov.il.
The project was carried out by previous "hold" rating.
The Zurich-based bank's
Sharon Ben-Haim and Boaz
Dolev of the Treasury and Zohar analysis of Leumi is based on its
Birkman of the Magic computer third quarter financial statement,
software company. Data will be which shows a steady growth in
updated from time to time. In sec- profits and improvement of re-
onds, Internet users can get an- turn on equity. The bank's ex-
swers to queries about party pected return on equity will reach
financing and allocations for road 10 percent, compared with 6 per-
cent in the past, UBS said.
development, for example.
Profitability and the return on
Yitzhak Dahan, head of the in-
formation systems branch said the equity should increase strongly
ministry intends its Internet pro- from the relatively low level of
ject to provide access for all resi- 1995. Just to return to the sector
norm of 10 percent leaves the rat-
dents to databases and services.
ing of the shares unduly cheap,
UBS said.
Bank Leumi is one of the two
dominant banks in the local mar-
ket, with a market share of about
30 percent.
Jerusalem (JPFS) — The Dovrat
UBS attributed the improved
Shrem Group of Israel has raised rating to the positive change seen
an additional $32 million in the in Bank Leumi's attempts to re-
United States, completing the sec- duce its cost base, mainly by re-
UBS Upgrades
Bank Leumi
Polaris Fund
Monies Raised