The Alliance Tire and Rubber Company, Israel’s largest producer of rubber tires, has increased net sales $2,000,000 in the first half of this fiscal year and expects, according to its board chairman Arthur Taubman, to double that figure by March 1961. The increase of approximately 30 percent over last year’s sales will bring total net sales to approximately $8,500,000, or 17 million Israeli pounds.
Alliance, whose shares are divided evenly between investors in Israel and the United States, is listed on the American Stock Exchange. The company has grown since the commencement of operations in 1953 to become Israel’s largest single exporter, reaching 36 countries in Asia, Africa, Europe, and South America. This year, projected export sales will rise to $1,500,000, a gain of $1,300,000 over 1959.
Mr. Taubman reported that the board of directors has authorized an increase in production to 10,000 tons a year, which level is anticipated by July, 1961. This represents 33 and one-third percent increase in volume over 1959-1960, or a new production capacity of 400,000 truck and tractor tires per year.
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