ELBIT page 68 24 MONTH CD 6.25% ANNUAL PERCENTAGE YIELD Here a yield you can't pass up. ciple with Dutch industrial gi- ant Stork, the world's largest producer of fabric printing sys- tems. This envisages cooperation on integrating and implement- ing EVS computerized vision technologies in Stork industrial systems. In all, the initial effects of the demerger have been_a bitter pill for Elbit. Its shares have been trading at a "deep discount, un- reasonable relative to its assets," according to a recent report by prominent Israeli brokerage house Central Securities Corpo- ration. The report forecasts op- erating losses will ultimately be reversed due to downsizing in the TV operation, the divorce from Fibronics and EVS's tran- sition to profitability. "Thus," it concludes, "the sub- stantial discount the company is traded at is likely to lessen sig- nificantly and perhaps disappear altogether in 1998." Time will tell. ❑ Sagol, adding that Keter has al- ready met with several local and overseas companies. The majority of the Keter Group's activities are in the United States and Europe. The group has only recently started to sell to neighboring countries, mainly to Turkey, and to the Far East, mainly to Japan and Tai- wan. The group, which employs al- most 10,000 people, comprises 11 factories — nine in Israel, one in Holland and one in the U.S. The factories manufacture about 1,000 products, including 200 principal items. Italian Air Force Deals With Elbit Jerusalem (JPFS) — Elbit Sys- tems Ltd., the Haifa-based de- fense contractor, announced that it received a $25 million, three- year contract to supply the Ital- ian Air Force with its Opher guided weapon system. Joseph Ackerman, president and CEO of Elbit Systems, said this contract, the first such deal with the Italian military, will help the company to further pen- etrate the Italian market. "The contract signifies an im- portant milestone for Elbit Sys- tems as it constitutes the entry of the company into the Italian defense market," Mr. Ackerman said. "We anticipate that this program will lead to expanding Elbit Systems' relations with the Italian Air Force, as well as en- hancing prospective Opher sales to additional NATO countries and other customers." Elbit Systems develops inte- grated defense systems, focus- ing on upgrading existing military platforms. Elbit Systems is one of the three November 1996 spin-offs from the Elbit holding company. (c) Jerusalem Post 1997 •$500 minimum opening deposit • Interest compounded quarterly Oakland Commerce Bank Member FDIC 31731 Northwestern Hwy. • Farmington Hills, MI 48334 • 810-855-0550 Rates subject to change without notice. Substantial penalty for early withdrawal. Annual Percentage Yield is effective as of 1-6-97. STOP 0 \ / (810) 541-5025 Internet Everything you wanted to know about the Internet but were afraid to ask T H E D E TR O I T J E WI S H N E W S ONE STOP Internet is the place to start 70 We • Find the right provider for you • Setup the software you need • Show you how to use the 'net effectively • Do your business or personal web pages Just call us at (810) 541 - 5025 and we will help you with the rest. All for surprisingly reasonable rates. ■ ■ ■ Visit Our Web Site at ■ ■ ■ http://www.rust.net/-mvs/onestop.htm or e-mail us at mvsgrust.net Fighting Heart Disease and Stroke JN EntertraInmet! Keter In Talks With U.S. Partner Jerusalem (JPFS) — The Keter Group is in preliminary discus- sions to gain control of a public company in the United States, through which it intends to raise capital, company general man- ager Sami Sagol said. Keter, which is wholly owned by the Sagol family, has allo- cated $60 million to investments in 1997-1998, most of which will go toward construction of new factories in Yokne'am, Ofakim and Barkan. The company is Israel's lead- ing manufacturer of plastic con- sumer products and one of the five largest such firms world- wide. It had a sales turnover of about $200 million last year, of which exports accounted for about 80 percent. Keter recently inaugurated a factory in Karmiel at a total in- vestment of $20 million. Over the next few years $20 million will be invested in both Yokne'am and Ofakim and $6 million in a new plant in Barkan. "Our expansion plans are based on many partnership agreements with local and in- ternational firms," said Mr. Sagol, adding that Keter intends to maintain its average growth rate of 20 percent a year. To fi- nance future activities, the own- ers are examining the possibility of raising capital overseas by in- vesting in a U.S. public compa- ny engaged in the plastics industry. Another option is to raise cap- ital on the Tel Aviv Stock Ex- change (TASE). If the TASE recovers we will consider this option," said Mr. Ormat Builds Power Plant , Jerusalem (JPFS) — Ormat In- dustries, a Yavne-based turbine manufacturer, has begun ship- ping equipment to build a geot- hermal power plant in New Zealand. The company expects to earn $23 million from the pro- ject, which will be completed in July. The 25 megawatt plant will be built on Rotokawa, an island in the north of the country. This will be Ormat's third plant in New Zealand, and the company said it has plans to build a fourth. Ormat has built more than 25 (_ geothermal power plants in 10 countries, including the United States, Thailand, Iceland, Ar- gentina and China. /\