ECONOMIC SURVEY (Communicated by GPO)
Jerusalem, 7 April 1994
INVESTMENTS, JOINT VENTURES, ACQUISITIONS:
* TEVA BUYS 34% OF FRENCH PHARMACEUTICAL COMPANY.
The Teva Group has acquired 34% of the French company Rogram
International SA, in a deal worth about $6.9 million. The French company
specializes in coating and delayed release technologies of
pharmaceuticals. Sales of the company for the fiscal year ending on 31
March totalled about $17.5 million. Teva and Rogram have been
cooperating for some time in developing delayed release drugs. Teva has
announced that this cooperation has, up till now, led to one commercial
product, the drug Dilatiazem SR, which Teva has marketed since late 1993
in the United States through its Lemmon Company subsidiary. Lemmon has
exclusive rights to market the generic drug in the U.S. Teva had a net
profit of about $57.5 million in 1993, compared with about $31.7 million
in the previous year. Teva's annual turnover totalled $502 million,
compared with about $395 million in 1992. ('Ma'ariv', 4.4.94)
* ENTERPRISE TECHNOLOGIES INVESTS IN ISRAELI SOFTWARE COMPANY M.E.D.
The Israeli branch of Enterprise Technologies is cooperating with the
M.E.D. software company of Jerusalem, and cooperation with 16 additional
Israeli software companies is being examined. Enterprise Group organizes
the Comdex computer exhibitions in Las Vegas and Atlanta, as well as
additional exhibitions in Brazil, Mexico and Canada. The group also
includes companies in the tourism and aviation fields, and has annual
sales of 'more than $300 million.' The Israeli branch of Enterprise
seeks out hardware and software companies which have completed the
development stage of a product, and which are interested in penetrating
the American market. Enterprise estimates the companies' potential and
advises on how to promote and market the product in the United States
and around the world. The first companies in which Enterprise
Technologies Group has invested are a Canadian company, a South African
company, and M.E.D., an Israeli software company in Jerusalem, which is
developing special software for the medical sector. ('Ma'ariv', 4.4.94)
* BEZEQ TO CARRY OUT PROJECT IN PARTNERSHIP WITH AZERBAIJAN GOVERNMENT.
Bezeq plans to set up a subsidiary in partnership with the Government of
Azerbaijan, in the framework of a wide-ranging communications
development project in that country. This was agreed to at a meeting
held on [3 April] between The Azerbaijani Communications Minister and
Bezeq Chairman of the Board Moshe Hava and General Manager Yitzhak Kaul.
The joint subsidiary will manage Azerbaijan's international
communications for 10 years, including the management of an
international exchange and satellite station. In a second project,
Bezeq, together with IBM, will upgrade and computerize the country's
public telephone exchanges. This project includes the integration of a
system of computerized charging and collection within the outmoded
communications exchanges. In addition, Bezeq, along with Tadiran, will
examine the possibility of setting up and operating a services exchange,
including telephone information, an international exchange, and customer
service operators. ('Ma'ariv', 5.4.94)
* MAG SETS UP SUBSIDIARY IN EUROPE TO MARKET WOVEN GOODS IT
MANUFACTURES.
The Israeli company MAG, which produces and markets woven fashions, has
set up a marketing company for woven fashions in Europe, which will
market its products to six fashion centers in Germany, the Netherlands,
Austria, Switzerland, Belgium and Scandinavia. The company believes that
by the end of the year, it will reach sales in Europe of about DM 4
million. The new marketing company, called, MAGMA, was set up following
negotiations with German businessmen. It is controlled by MAG, which
holds 52% of its stock. Two German partners each hold 24 % of the stock.
The company will operate from the fashion center in Dusseldorf and will
be responsible for marketing in all of Western Europe. ('Ma'ariv',
5.4.94)
FOREIGN TRADE:
* SEVERE BLOW TO ISRAELI EXPORTS TO RUSSIA IN WAKE OF CHANGES IN RUSSIAN
CUSTOMS PROCEDURES.
Israeli exports to Russia are liable to be severely damaged as a result
of new Russian customs policies, in place since 15.03.94. According to
the new policies, customs rates will be doubled for goods exported to
Russia from countries which do not have trade agreements with it. Israel
is one of the few countries in the western world that has yet to sign a
trade agreement with Russia and the other republics of the former Soviet
Union. From 1991-1993, Israeli exports to Russia grew eleven-fold,
reaching $188 million last year.
FAIRS AND EXHIBITIONS:
* 'MASHOV 94' AGRICULTURE AND GARDENING EXHIBITION ON 10-12.05.94 AT
KIBBUTZ GA'ASH.
Agriculture and gardening sector innovations will be displayed at the
'Mashov 94' exhibition that will be held at Kibbutz Ga'ash on 10-12 May,
under the sponsorship of Agriculture Minister Ya'akov Tzur. Emphasis at
the exhibition will be placed on three main fields: agricultural
mechanization, gardening, and the environment. Organizations from India,
various African countries, Italy, Britain, and the United States are
expected to come to the exhibition. The exhibition's management invested
much effort to bring organizations from the Arab countries, mainly
Jordan and Egypt.
* 'INTERNATIONAL FOOD WEEK' ON 9-12.5.94 AT BINYANEI HAOOMA IN
JERUSALEM.
The ninth 'International Food Week', sponsored by the Israel Export
Institute, will be held at Binyanei Haooma in Jerusalem, on 9-12.5.94.
120 Israeli food enterprises are participating in the event; hundreds of
buyers are expected to arrive from around the world. The 'International
Food Week' is held every three years and is the Israeli food industry's
most important event.
* 'ISRAEL ONLY 94' EXHIBITION TO BE HELD IN MOSCOW.
The second Israeli national exhibition in the Commonwealth of
Independent States will be held in the Moscow ExpoCenter, Russia's
largest exposition facility, on 15-17.6.94.
DELEGATIONS:
* INDUSTRY AND TRADE MINISTER HARISH TO MOROCCO TO SIGN TRADE
AGREEMENTS.
Minister of Industry and Trade Micha Harish leaves next week for
Morocco, to attend a conference of trade ministers from GATT member
countries. At the conference, 117 countries, which account for more than
90% of world trade, will sign a document cancelling limitations in the
area of services in international trade. Minister Harish, along with 23
other trade ministers, will sign an international arrangement for
opening government tenders to Israeli entrepreneurs as well. At the
meeting in Morocco, Harish will hold meetings with trade ministers from
many GATT member countries, in an effort to promote Israeli exports to
those countries. The forum in Morocco will also provide an opportunity
to make contact with senior officials from countries with which Israel
has no diplomatic ties. ('Ma'ariv', 5.4.94)
* DELEGATION OF ISRAELI COMMUNICATIONS INDUSTRY EXPORTERS TO VISIT
TAIWAN AND SOUTH KOREA.
A delegation of Israeli communications industry exporters will leave, at
the end of May, for Taiwan and South Korea where they will meet with
industrialists and government leaders. These meetings are being
organized by Israel's trade representatives, Ya'akov Pas in Taiwan and
David Roth in South Korea. In the context of their visit to Taiwan, the
delegation members will seek to further cooperation between Taiwanese
and Israeli companies in third countries, mainly China.