The
Solectron
Opens Office
Jerusalem (JPFS) — California-based
Solectron Corporation said it will
open a representative office in Petah
Tikva.
Founded in 1977, the company is
the world's second largest provider of
contract manufacturing services to
equipment makers. It builds electronic
systems and subsystems for the avion-
ics, computers, communications,
semiconductors, instrumentation and
consumer electronics industries.
With net income of $3.7 billion
last year, the company is moving into
the domestic market with the inten-
tion of increasing sales in Israel and
offering advice in the high-tech sector.
Teva Buys
Dutch Company
Jerusalem (JPFS) — Teva
Pharmaceutical Industries has reached
an agreement with the Dutch OPG
Group for the purchase of its
Pharmachemie group, a producer of
generic drugs, for $87 million in cash.
The Jerusalem-based company,
Israel's largest pharmaceutical producer,
said the acquisition is expected to boost
its sales in Europe and its production
and product development, especially in
the field of cancer treatment.
Pharmachemie's sales in the past
year totaled $130 million, mostly to
the Dutch market, where it holds a 40
percent share.
In a statement to the Tel Aviv Stock
Exchange, Teva said that after a transi-
tion period, it expects the acquisition
to have a positive impact on its 1999
results.
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China Trade
Is Increasing
Jerusalem (JPFS) — Bilateral Israeli
trade with China rose 43 percent in
the first quarter to $88.3 million,
from $61.7 million in the same period
in 1997, the Industry and Trade
Ministry said.
A senior Chinese trade delegation,
headed by Yang Wen-Sheng, an advis-
er in China's Ministry for Economic
Cooperation, is visiting with the aim
of boosting economic ties, the min-
istry said.
At the end of May, Prime Minister
Binyamin Netanyahu is to visit China.
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