Rogosin Reports on ‘wonderful Progress’ of His Rayon Plant in Israel

Israel Rogosin, president of Rogosin Industries Ltd., largest private American investment venture, in Israel, reported at the annual meeting of his stockholders at the Statler Hilton hotel today that the company had made “wonderful progress” during the past year, and that “profits for the coming year are going to be greatly enhanced. “

The first dividend of $1,00 per share was paid on May 1. During the past year, 3,000,000 pounds of rayon tire cord fabric had been manufactured at the Ashdod plant in Israel, Mr. Rogosin told his audience. This amount, he said, would be doubled during the current year. In addition, this year Rogosin Industries would make 2, 000, 000 pounds of textile yarn (rayon and rayon combinations) and 2, 300, 000 pounds of nylon.

Mr. Rogosin reported that machinery to produce polypropylene in Israel was being installed now and that by January 1, 1961, manufacture of this most advanced man-made fiber would begin at an annual production rate of 2,300,000 pounds. He related to his audience the contents of a letter he had recently received from a well-known biblical archaeologist who advised him of the discovery by a French professor of a group of clay tablets dating to the 14th Century B. C. E. which dealt with the maritime trade in the Mediterranean at that time. Among the products mentioned are “Textiles of Ashdod. “

NEXT STORY