TEL AVIV (Oct. 7)
Joseph Meyerhoff, president of the PEC Israel Economic Corporation, said today that the sale of Israeli securities in the United States would help to provide the capital which Israel industry needed to compete in world markets.
Summing up his findings from a three-week visit, he said he was impressed by the manner in which Israel government and industrial leaders were responding to the challenge of the six-nation European Common Market. He said their attitude was that for Israel’s industry to compete with foreign products large integrated enterprises were needed which Could compete with overseas firms on equal terms.
To provide the capital needed for the assembly of such large enterprises, he said, the PEC would seek to increase the sales of Israeli securities in the American securities market. He estimated that $10,000,000 worth of Israeli securities could be sold in the United States this year, half in Development Bonds and half in stock of various Israeli publicly owned industrial enterprises. He noted that the PEC had Joined with an underwriting firm in New York, Brager and Company, for that purpose.