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Wolfson Takes over Shell Chemical Firm in Israel

Israel Wolfson, British financier who took over the Israel market facilities of the Shell Oil Company, announced today purchase of Shell Chemicals, oil firm subsidiary here manufacturing chemicals, detergents and sprays. The acquisition, reportedly for a price of IL 1,500,000 ($835,000), leaves Shell Oil with only an indirect interest in the Haifa refineries.

Mr. Wolfson also announced designation of Meir Sherman, former economic counselor to the Israel Embassy in Washington as director of the entire Shell operation in Israel. He said British chemists would be sent to Israel to help expand operations of the chemical firm.