More than 400 Americans have invested $1,450,000 in the $3,000,000 Alliance Tire and Rubber Company factory in Israel, it was reported here today by the economic department of the Jewish Agency. The American share of the project is already fully subscribed, the report said, adding that the stock was purchased by American Jews and non-Jews in 98 cities.
The Alliance Tire and Rubber Company, an Israeli corporation, is registered with the Securities and Exchange Commission in the United States. The shares subscribed by Americans represent 50 percent of the company’s capital while the remainder was subscribed in Israel by affiliates of the Histadrut, Israel’s Federation of Labor.
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