The American-Israeli Cattle Corporation, a new $2,000,000 firm, has been formed by a California syndicate to expand Israel’s cattle-raising and meat-packing industries, the Jewish Agency announced here today.
The new firm plans to establish one or more Israel corporations to engage in cattle-breeding, meat-packing, and related enterprises. It will also supply a revolving fund to finance the Israel corporations’ hard currency purchases. The corporation is expected to aid in the consolidation of Israel’s economy by reducing the volume of meat imports.
U.S. activities of the American-Israeli Cattle Corporation will consist primarily of purchasing cattle for export to Israel. Present plans envisage shipment of up to 6,000 head of beef cattle within the next 12 months. The company will also ship farm machinery and meat-packing equipment to Israel firms.
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