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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 Southeast Michigan Offices: Auburn Hills • Brighton • Canton • Clawson • Fenton FDIC Poalim Sets Up Financing Firm DESIGNS UNLIMITED "THE FINEST IN CUSTOM CABINETS FOR HOME OR OFFICE" Showroom hours: Mon.-Fri. 11-5. Sat. 11-3 or by appointment 624-.7300 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