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Modernization of Israeli Industrial Equipment Will Require $40,000,000, Parley Told

Modernization of Israel’s industrial equipment will require $40,000,000, L. Shenkar, president of the Manufacturers Association of Israel, told delegates to the biennial conference of the organization which opened here today.

A delegation from the association will leave shortly for the United States to establish contact with prospective industrial investors and to invite technical experts to visit Israel, Shenkar added. He said that manufacturing circles in Israel are studying methods for the best utilization of the prospective United States loan to Israel for the rejuvenation of industrial equipment in the country.

Members of the Israeli Cabinet, numerous mayors and other Israeli leaders at tended the parley. Greetings from President Chaim Weizmann and Premier David Ben Gurion were read. In his message, the Israeli President said that industry in Israel must be based on scientific foundations and manufacturers must support scientific research institutes. “It must also be remembered that the only raw materials available here are science, talent, energy and vision,” the message added.

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