TEL AVIV (Aug. 7)
The first nylon yarns will come out of the Rogosin Industries of Israel plant at Ashdod tomorrow, while production of polypropylene fibers is scheduled to start next January 1, it was reported today. Output of each is expected to be 2,500,000 pounds a year. Between 25 and 40 percent of the production will meet Israel’s domestic requirements and the surplus will be exported.
Israel Rogosin, founder of the $20,000,000 enterprise, said that the plant would produce goods to the value of $12,000,000 in 1961. Semi-processed fibers for the rayon production and chemicals for nylon and polypropylene are to be imported at a cost of about $7,000,000 so that the added value accruing to Israel will be some $5,000,000.
Mr. Rogosin said that under an agreement reached in 1958 with the Israeli Government, $9,000,000 worth of shares were subscribed by stockholders and the Government undertook to invest $11,000,000. He said he hadn’t asked the Government to put any money into the enterprise but that now he would call on it to supply working capital to keep the enterprise working at full capacity. He added that his own investment had been $6,000,000 and that most of his shares had been contributed to charities in the U.S. and Israel.