Exclusive Offer Only from Glassman Aurora Merhav, Hapoalim In Gas Deal Jerusalem (JPFS) — Herzliya- based Merhav succeeded in ar- ranging financing for a $180 million gas booster station on be- half of the government of Turk- menistan, Bank Hapoalim said. Hapoalim will be a lender in the consortium, which is head- ed by Holland's largest bank, ABN-AMRO. Hapoalim will lend the project up to $40 mil- lion with the backing of the Is- rael Foreign Trade Risks Insurance Corp. Chief contractor for the three- year project is Israel's Bateman Engineering, with the equip- ment being supplied by U.S., Is- raeli and Czech companies. World Bank Funds Industrial Park Siemens will use these investments to encourage the companies to develop specific technologies. In return, the Israeli enterprises will be able to benefit from Siemens' well-developed marketing chan- nels. Siemens' public communica- tions division has annual sales of $24.3 billion, representing 13 percent of the company's total sales. Siemens established an Is- raeli subsidiary in 1995. Since then, the company has pur- chased Ornet, a Karmiel-based telecommunications' products developer; entered into a joint venture with Elscint, the mak- er of medical detection devices; and invested in the Star venture capital fund. Meanwhile, Orbotech Ltd., a Yavne-based maker of auto- mated inspection systems used in the manufacture of printed circuit boards, announced that it acquired a 51 percent stake in a division of W. Schuh GmbH & Co., of Bad-Pyrmont, Germany, in exchange for $10.8 million and 85,209 ordinary Orbotech shares. Orbotech has an option to purchase the remaining equity interest in Schuh over the next five years. Jerusalem (JPFS)— The World Bank is ready to transfer $10 million to the Karni industrial park as soon as Israel and the Palestinian Authority (PA) ar- rive at a final security arrange- ment, James Wolfensohn, president of the bank, told Israel Minister of Industry and Trade Natan Sharansky. Currently, the two sides are trying to resolve security issues, such as where security checks of goods going from Karni, which is located in the Gaza Strip, into Jerusalem(JPFS) — Israel and Hungary have agreed to estab- Israel should take place. "The whole idea behind Karni lish a free-trade area as of Jan. is that, even in the event of a clo- 1, the Israel Industry and Trade sure, goods would be able to Ministry announced. Hungarian import taxes im- come into Israel even if people couldn't," said Eli Kazhdan, Sha- posed on Israeli goods will be equivalent to those currently ransky's senior adviser. At a meeting with donor na- levied on imports from the Eu- tions in Gaza last month, Israel ropean Union, according to the and the PA committed themselves agreement. The breakthrough came after to work as quickly as possible to difficulties in the negotiations establish the park at Karni. in which Israel claimed there was unfair and increasing dis- crimination against Israeli goods, in comparison to those from the EU, European Free Trade Association, Central Eu- rope, and Turkey, according to Jerusalem (JPFS) — The pub- the ministry. lic communications division of Annual bilateral trade totals Siemens AG, the Munich-based $105 million, with Israeli ex- electronics giant, is currently in ports totaling $60 million. advanced stages of negotiations A free-trade agreement with to purchase 10-percent stakes Poland will also come into effect in two undisclosed Israeli com- on Jan. 1. panies, said Ofra Lyth, Siemens' Israel has similar agreements Israeli spokeswoman. with the Czech Republic and Within the next two weeks Slovakia, and is finalizing a Siemens will announce a final treaty with Slovenia. deal with each of the companies, Israel also has free-trade which both develop electronics agreements with the United for the communications indus- States, Canada, Turkey, and the try, Lyth said. European Union. Israel, Hungary Free-Trade Pact Siemens Stake In Two Firms • •,:amp, Introducing The ALL NEW 1997 qt) 041 ..r by Oldsmobile A ffig ag ..A.S egRA NEW TRUCKLOAD JUST ARRIVED! 40 AVAILABLE AT THIS PRICE Experience the power of a V-8 Engine, the safety of Dual Airbags and standard features that you might find in an expensive luxury import. Even the high quality Compact Disc Player comes standard with every Aurora. CHOOSE FROM A RAINBOW OF COLORS $3990*.th LEASE FOR 36 MONTHS • Dark Cherry Red Metallic • Champagne Metallic • Medium Garnet Red Metallic • Silver Teal Metallic • Light Gray Metallic • Light Adriatic Blue Metallic • Dark Green Metallic • Dark Green/Gray Metallic • Black • White NOlcismobile Demand Better 36 month closed end lease. Option to purchase at lease end for price to be determined at lease inception. Security deposit. 1st months pymt. dest. and acq. fee of 5400 due at inception. Tax. title plates. due at inception. Lessee resp. for excess wear and tear. 150 per mile over 12.000 per year. To get total obligation multiply term by pymt. Glassman Aurora Telegraph • At The Tel-12 Mall • Southfield 810.354-3300 1-800-354-5558 •■ •••1•1 It's A Free Country. Now placing a Personal Ad is too. (Free) Detroit Jewish News is now offering FREE personal ad placement. On e ll ie'V e i C ce tOr P To place a free ad, call 1.800.881.8290 You must be 18 or older. STILL SMOKING? ,r IT'S TIME TO QUIT! , ••••11•111 7 • •on Hebrew Memorial Chapel 26640 Greenfield Rd. Oak Park MI 48237 810-543-1622 • Outside M11-800-736-5033 Is Your Financial House In Order?? To out find call 4 PHASE FOUR ti Cr) Cr) Certified Financial Planning Professionals OD (248) 559-6980 I— C/7 JOEL LEVI, CFP TRISH WELLMAN, CEP CD 17117 West 9 Mile Road, Southfield, MI 48075 Phase Four Advisory, Registered Investment Advisor Securities offered through Vestav Securities Corporation, Member, NASD & S1PC 1931 Georgetown, Hudson, OH 44236 (216)650-1660 60