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American Palestine Trading Corporation Reports $4,000,000 Increase in Assets

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The assets of Ampal-(American Palestine Trading Corporation)-have risen by $4,000,000 since the beginning of the year and now stand at $14,000,000, Abraham Dickenstein, president of Ampal, announced at a press conference here today.

Two prominent Israel industrialists who just arrived from Israel also spoke at the conference. Uriel Friedland, managing director of Israel Oil Industry Ltd., revealed that he is here to purchase $400,000 worth of machinery for the edible oil and soap departments of his corporation. He asserted that Israel’s development of export trade is dependent to a great degree on industry’s efficiency which, he said, needs not only modernization of equipment but improvement of technique and organization.

Nahum Verlinsky, director general of Thuva, agricultural products marketing co-operative, reported “tremendous progress” in increasing the production of wheat, grains and fodder, pointing out that these products are now planted on 440,000 acres as compared to 120,000 acres in 1947. Mr. Verlinsky, who said that he has just concluded the purchase of some $750,000 worth of dairy machinery, announced that a new $2,000,000 dairy is being constructed in Tel Aviv. This, he said, will be the largest dairy in the Middle East.

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