TEL AVIV (Jul. 27)
A $4,000,000 agreement was concluded today between the Israeli Government and the American Ford Motor Company, after negotiations lasting for about two months.
The agreement provides for the Ford Company to supply motor vehicles to Israel, including trucks and passenger cars for private and public use. Part of the $4,000,000 will be paid from the loan which the Israeli Government secured from the U.S. Export-Import Bank.
Other American automobile companies, including General Motors, were reported here today as having agreed to similar arrangements. Negotiations are also going on here with Ford representatives for the erection of an automobile assembly plant in Israel.