NEW YORK (Feb. 28)
Gulton Industries of Metuchen, N. J., has formed an Israeli subsidiary to manufacture in Israel basic electronic products for domestic use and for export, Dr. Leslie K. Gulton, president of the parent corporation, announced here on his return from Israel.
Among the projects under consideration by the Israeli subsidiary is the establishment of plants in Africa to assemble radio components made in Israel, and the export of electronic equipment for use in medical and scientific work.
Aharon Goldstein, president of the Israel Federation of Builders and Contractors, reported here today of plans by Israel to build five cities in the Negev to form the industrial and mining hinterland for the projected new port of Ashdod. He said that apart from such special development and construction projects, regular construction in Israel for housing and for industrial and public purposes would amount to $1,000,000,000 during the next four years. He welcomed participation by American builders and capital in the construction projects.