NEW YORK (Jan. 15)
A large delegation of American industrialists will leave this spring for Israel to make a firsthand study of economic conditions there for the purpose of stimulating interest in private American investment in the Jewish state.
An announcement to this effect was made today by Isadore I. Turover, of Washington, D.C., national co-chairman of the Economic Committee of the Zionist Organization of America. Speaking at the first economic conference arranged here by the Z.O.A. for the promotion of private investment in Israel, Mr. Turover said that the delegation will be composed of outstanding businessmen and heads of American plants.
The conference was also addressed by Edward I. Echtman, general manager of the Manufacturers Association of Israel. He declared that since the end of the last world war the industrial potential of Israel has grown considerably. “Israel, as a vital hub in the Middle East, particularly in time of international emergency, must receive substantial American backing and support to safeguard and preserve its economy as a democratic bastion in the Middle East,” he stated.
Nathan Strauss III, a director of the Palestine Economic Corporation, revealed at the conference that the General Tire and Rubber Company and the P.E.C. have combined to start a $2,500,000 rubber products factory in Israel. “The plant machinery and equipment are being purchased in the United States,” he said, “and the first partial shipment will go forward this week aboard a vessel of the Israel-America Line. It is expected that the factory will export to Near East markets as well as meet the needs for tires in Israel.”