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.

Lender
for
Commercial
Real
Estate

Senior Housing

Hotels

Multifamily

Manufactured
Home
Communities

Self-Storage

Light Industrial

Office Buildings

Fixed and floating rate commercial mortgage loans $1 million and up

BLOOMFIELD
ACCEPTANCE
COMPANY

260 East Brown Street
Suite 350
Birmingham, Michigan 48009

(248) 644-8838
Fax (248) 644-5760

Email cmlreloans@bloomfld.com

!

Bloomfield Acceptance Company is a wholly owned subsidiary of Bingham Financial Services

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.

Retail

ft

f

on all NEW Passbook Plus, Slafemenf
Plus and Classic Checking accounts

fOR

11)15S2Pw"
BANK

FIRST

MONTHS!

248-338-7700 or 248-351-7700

2600 Telegraph Road

Bloomfield Hills

AI 48302

'Annual Percentage Yield is effective as of June 12, 1998. Restrictions apply. Offer is effective for a limited time only and is subject to change without notice. Valid on retail accounts only up to a maximum
S100,000. Interest is earned on any balance and is paid monthly. APY's revert back to the regular posted rate after the initial three month period expires. Call or visit any Flagstar Banking Center for full disclosure
of account parameters. Classic Checking. There is a S50 minimum balance requirement to open and a S5 monthly service charge if a minimum balance of S500 is not maintained. Passbook and Statement Plus
Accounts. No minimum opening balance requirement. There is a $2 monthly service charge if minimum balance of $1,000 is not maintained. MEMBER FDIC.

I