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port to be established at Akaba,
according to a draft agreement
drawn up recently.
Eilat Mayor Gabi Kadosh and
Jerusalem (JPFS) — Poalim Cap- Aharon Dekel, chairman of the
ital Markets, a subsidiary of Bank Eilat Hotel Association, who both
Hapoalim in Israel, has estab- favor keeping the Eilat Airport,
lished a foreign trade financing had feared that during his visit to
firm in partnership with BB Aval, Jordan, Prime Minister Binyamin
the international financing arm Netanyahu would yield to Jor-
danian pressure to redirect all
of Berliner Bank of Germany.
flights
to Eilat to the proposed
The new company will special-
ize in financing export transac- joint airport.
However, the Transport Min-
tions worldwide, especially to
developing markets like South istry announced that Ministry Di-
America and Eastern Europe. BB rector-General Nahoum
Aval specializes in financing short- Langental had gained Jordanian
and long-term export transactions, acceptance of a draft agreement
as well as provision of foreign which would reserve the joint air-
port for international flights, while
trade insurance coverage.
the Eilat Airport, located in the
center of town, would continue to
serve domestic flights.
Upon his return from Jordan,
Mr. Langental announced that
the building of the joint airport
Jerusalem (JPFS) — Israel Cor- could begin in a matter of months.
poration Ltd. chairman Shoul According to the agreement, the
Eisenberg was awarded the Com- airfield itself is to be in Jordan,
manders Cross of the Order of with the connecting Israeli ter-
Merit of the Federal Republic of minal on Israeli territory. Two
Germany for his contribution to subcommittees are to deal with
the air rights of the two countries
Israeli-German relations.
The Eisenberg Group has ex- and the establishment of a joint
tensive dealings with Germany company to operate the airport.
and in other countries, particu-
larly in the Far East.
Shoul Eisenbeig
Receives Award
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Tadiran, Exide
Sign Battery Deal
Revlon Quits
After 36 years
Jerusalem (JPFS) — Revlon, the
New York based beauty-products
company, has decided it will close
its manufacturing activity in Is-
rael, primarily because of the lim-
ited market and high labor costs,
a senior manager for Revlon Is-
rael said.
Revlon has been in Israel since
1961, making it one of the most
veteran international firms in Is-
rael.
The toiletries and cosmetics
manufacturer employs 150 work-
ers, including marketing and sales
people.
Over the course of the last few
years, Revlon Israel has under-
gone a reorganization process that
has involved a reduction in pro-
duction activity and increase in
imported products.
Most of the company's sales to
the local market consist of im-
ported products.
The decision to terminate local
manufacturing activities is part
of the concern's recent strategy to
concentrate manufacturing in few-
er countries.
Revlon emphasized it is not
pulling its business out of Israel,
explaining that it intends to main-
tain its import and distribution
operations.
The spokesperson said Revlon
intends to expand its workforce
and activity in Israel in line with
Jerusalem (JPFS) — Domestic any growth in business.
flights would continue to land at
It is expected that Revlon will
the Eilat Airport, and not at:the sell its property in Ashdod.
proposed Israeli-Jordanian air-
Jerusalem (JPFS) — Tadiran said
it signed a memorandum of un-
derstanding with the U.S. Exide
Corporation for the joint produc-
tion of lithium batteries.
Exide, based in Michigan, is the
world leader in manufacturing
and marketing starting, lighting,
ignition and industrial lead acid
batteries. It has a market share
of 40 percent, according to Tadi-
ran.
Tadiran said the two sides plan
strategic cooperation that would
combine Tadiran's technology and
research and development capa-
bilities with Exide's worldwide
marketing organization. The
terms of the agreement have not
yet been set.
Tadiran said it had invested
$20 million in developing the bat-
teries and another $10 million in
building an automated production
line capable of turning 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