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851-7200
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THE DETRO T J EWISH NEWS
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72
.05:00
4007
Poalim Sets Up
Financing Firm
Jerusalem (JPFS) — Poalim
Capital Markets, a subsidiary of
Bank Hapoalim in Israel, has es-
tablished a foreign trade financ-
ing firm in partnership with BB
Aval, the international financing
arm of Berliner Bank of Ger-
many.
The new company will spe-
cialize in financing export trans-
actions worldwide, especially to
developing markets like South
America and Eastern Europe.
BB Aval specializes in financing
short- and long-term export
transactions, as well as provision
of foreign trade insurance cover-
age.
Tadiran, Exide
Sign Battery Deal
Jerusalem (JPFS) — Tadiran
said it signed a memorandum of
understanding with the U.S. Ex-
ide Corporation for the joint pro-
duction of lithium batteries.
Exide, based in Michigan, is
the world leader in manufactur-
ing and marketing starting,
lighting, ignition and industrial
lead acid batteries. It has a mar-
ket share of 40 percent, accord-
ing to Tadiran.
Tadiran said the two sides
plan strategic cooperation that
would combine Tadiran's tech-
nology and research and devel-
opment capabilities with Exide's
worldwide marketing organiza-
tion. The terms of the agreement
have not yet been set.
Tadiran said it had invested
$20 million in developing the
batteries and another $10 mil-
lion in building an automated
production line capable of turn-
ing out about 8 million batteries
annually.
The lightweight batteries have
a life span of more than 10 years,
and are designed for use in cel-
lular telephones, medical equip-
ment and military hardware.
Jordan Keeps
Airport Open
Jerusalem (JPFS) — Domestic
flights would continue to land at
the Eilat Airport, and not at the
proposed Israeli-Jordanian air-
port to be established at Akaba,
according to a draft agreement
drawn up recently.
Eilat Mayor Gabi Kadosh and
Aharon Dekel, chairman of the
Eilat Hotel Association, who both
favor keeping the Eilat Airport,
had feared that during his visit
to Jordan, Prime Minister
Binyamin Netanyahu would
yield to Jordanian pressure to
redirect all flights to Eilat to the
proposed joint airport.
However, the Transport Min-
istry announced that Ministry
Director-General Nahoum Lan-
gental had gained Jordanian ac-
ceptance of a draft agreement
which would reserve the joint air-
port for international flights,
while the Eilat Airport, located
in the center of town, would con-
tinue to serve domestic flights.
Upon his return from Jordan,
Mr. Langental announced that
the building of the joint airport
could begin in a matter of
months. According to the agree-
ment, the airfield itself is to be in
Jordan, with the connecting Is-
raeli terminal on Israeli territo-
ry. Two subcommittees are to
deal with the air rights of the two
countries and the establishment
of a joint company to operate the
airport.
Contract Set
On Solar Power
Jerusalem (JPFS) — U.S. aero-
space giant McDonnell Douglas,
along with Ormat Industries,
Rotem Industries and the Weiz-
mann Institute's Yeda Research
and Development Company in
the United States, have won a
$5.3 million contract to demon-
strate within three years the
commercial feasibility of an ad-
vanced solar-power plant capa-
ble of producing tens of
megawatts of electricity, the
Weizmann Institute of Science
reported.
The contract was awarded by
the U.S.-Israel Science and Tech-
nology Commission. The collab-
oration agreement was signed at
the U.S. Space and Rocket Cen-
ter in Huntsville, Ala.
The system, developed by the
Weizmann Institute, uses spe-
cial optics and an innovative air
receiver to reflect, focus and con-
vert sunlight, raising tempera-
tures high enough to directly
power gas and steam turbines in
a combined cycle to generate elec-
tricity. The option of using either
sun, gas or a combination of the
two guarantees power even un-
der cloudy skies.
Market assessments conduct-
ed recently suggest the potential
for applications around the world
is broad.
The U.S.-Israeli team will de-
velop an operational 200 to 300
kilowatt system to be located at
the Rehovot institute's solar re-
search facility (called the Cana-
dian Institute for the Energies
and Applied Research). Highly
reflective mirrors, called he-
liostats, will track the sun and
reflect it up to another mirror lo-
cated on a central tower. This re-
flector will send the sunlight back
down to a matrix of optical de-
vices able to concentrate the light
so that it becomes 5,000 to 10,000
times more powerful than nat-
ural sunlight reaching earth.