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Pec Leaders Announce Five-year $40 Million Investment Program

The PEC-Israel Economic Corporation is planning new investments in Israel totaling $30-40,000,000 over the next five years, Joseph Meyer-hoff, PEC chairman, and John Furman, president, disclosed today, following a meeting of the PEC executive committee, its first in Israel.

The major portion of the investments will be in Israel’s chemical, petrochemical and pharmaceutical industries as well as for expanding existing industrial, tourist and shipping projects in which PEC is the main shareholder and investor.