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U.S. and Israel Investors Open $4,000,000 Paper Mill in Hadera

The first modern paper mill erected in the Middle East was officially opened today by Acting Prime Minister Moshe Sharett, Constructed at a cost of $4, 000,000, the American-Israeli Paper Mills, Ltd., plant is located on a 22-acre site midway between Tel Aviv and Haifa and can meet all of Israel’s paper requirements.

The mill was put up by Joseph M. Mazer, treasurer of the Hudson Pulp and Paper Corporation of New York; the Palestine Economic Corporation of New York, and other American, foreign and Israeli investors.

The mill will produce approximately 15,000 tons of newsprint annually, writing and kraft papers. A number of expert papermakers from the United States, Scotland and Switzerland are working in the mill, training Israelis who will carry on their duties. The mill is expected to save Israel $1,000, 000 annually in foreign currency.