NEW YORK (Aug. 30)
Complete control of the Palestine Purchasing Service, Inc. has been assumed by AMPAL — American Palestine Trading Corporation — through the purchase of all the outstanding P.P.S. stock, it was announced today by Ralph Wechsler, president, and S.A. Dickler, manager of the Palestine Purchasing Service, Full control of P.P.S. will result in a more efficient and economical operation, as well as the expansion of two-way trade between the United States and Israel, the announcement said.
Organized in 1945, the Palestine Purchasing Service has grown rapidly with the ever-increasing needs of Israel. The over-all trade total for the four years of the company’s existence exceeds $ 30,000,000 in purchases in the United States. Recently it placed an order with General Motors for approximately $3,600,000 for trucks, automobiles, spare parts and service equipment.