Israel Rogosin told a meeting of stockholders of Rogosin Industries Ltd , here Friday that by 1961. when the second phase of plant installation is completed, the Rogosin mills in Israel would earn a profit of $2,000,000 a year.
The first section of the plant, he announced, had produced three million pounds of tire fabric, all of it sold to two Israeli tire companies, and two million pounds of textile yarn. Equipment now being installed, he said, would increase capacity to five million pounds of tire fabric-three million pounds for Israeli needs and two million for which he said the firm had commitments outside Israel.
Machinery to impregnate the tire fabric with rubber,” so that we do half the job that the tire people have to do,” will be in operation by January, the industrialist reported. Construction is now under way on the second section of the plant which, he said, would manufacture 2,500,000 pounds of a nylon yarn mown commercially as perlon and 2,500,000 pounds of polyester. The perlon, he said, would be in full production by next April and the polyester by the end of 1960.
Mr. Rogosin noted that there was an Israel Government commitment to provide-$11,000,000 in addition to the $10,000,000 “we have subscribed ourselves.” and declared that the company had not as yet taken one dollar of that money and would not “until there are further developments of great meaning to our company.”
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
