The British Treasury has approved the establishment of an assembly plant in Isreal for agricultural and other machinery by the 200-year-old firm, C.H. Johnson Machinery, Ltd., located in Stockport, it was reported today. The Johnson company, the Jewish Telegraphic Agency learned, will operate the plant in partnership with a group of Israel investors. A sum of 100,000 pounds ($280,000) has been invested in the project.
This is the second big project approved by the Treasury under an agreement reached two months ago between the Treasury and Israel authorities, whereby the British authorities undertook to “consider favorably applications from British firms for permission to establish branches in Israel” and transfer to the Jewish state equipment for this purpose.
The first case approved by the British Treasury recently was for a plant now in the course of construction in Lydda for refining used lubricating oil. This plant is being established by Pressure Lubricants, Ltd. The expansion of British industrial investments in Israel is hampered at present by currency restrictions and by the London government’s decision to limit investments temporarily to dollar countries, such as the U.S. and Canada.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
