NEW YORK (Nov. 7)
American business men will invest $1,000,000 in establishment of a new Israeli company to manufacture plastic products, A.M. Katz, treasurer of the Ideal Toy Corporation, announced here today. The new company, the United States-Israeli Toy and Plastics Corporation, will erect a plant in Tel Aviv to produce a wide range of plastic products including building accessories, household goods, toys and dolls. Initial investment capital is being provided by members of the American doll and toy industry who have already subscribed a substantial portion of the issue of one million shares with a par value of one dollar, Mr. Katz said. David Rosenstein, president of the National Association of Doll Manufacturers of America, is organizer and secretary of the new company.