TEL AVIV (Nov. 28)
The Israel General Tire and Rubber Company’s large plant which is now under construction near Petach Tikvah will be in full production within a year, M. Orr, general manager of the company, told a press conference today.
He estimated that the plant would be producing 150,000 tires and tubes annually for local consumption and export and that Israel would need about two-thirds of the plant’s output for domestic purposes. This is expected to save Israel an annual outlay of between $2,500,000 and $3,000,000 in foreign currency.
Forty percent of the company’s $2,800,000 capital outlay was raised by Israel investors while the remainder was provided by the Palestine Economic Corporation, the General Company of Kansas City and other foreign sources. The Kansas City firm will also provide the skilled personnel needed to operate the plant. About 300 Israelis will also obtain employment at the plant. Raw rubber will be obtained from Malaya.