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Palestine Economic Corporation Increases Investments in Israel

The Palestine Economic Corporation increased its investments in Israeli industry by 26 percent last year, Dr. Heinz Grunbaum, vice-president of P.E.C., announced here today. He added that the companies in which the P.E.C. is active increased their Income from $9,600,000 in 1951 to $10,000,000 in 1952.

The P.E.C. invested, in whole or in part, in such companies as Fertilizers and Chemicals, Israel’s largest producer of fertilizers, General Tire and Rubber Company, American-Israel Paper Mills, a plastics producing company and other local industrial establishments, Dr. Grunbaum revealed. The corporation also invested in several banking institutions and an Israel trading corporation which will supply the Jewish State with some $3, 000,000 in raw materials.