The Government’s Ministerial economic committee approved today creation of a giant chemical combine of all of Israel’s chemical and petrochemical industries with an American Jewish industrialist as its board chairman.
Included in the new combine will be the Dead Sea Works, Chemicals and Phosphates, the Haifa Refineries, Israel Petrochemicals, Haifa Chemicals and Arad Chemicals. The projected combine will have assets totaling 600,000,000 pounds ($200 million) plus anticipated investments of 350,000,000 pounds ($117 million) or total assets of nearly 1,000,000,000 pounds ($333 million).
Jerry Sudarsky, vice-president of the International Chemicals and Minerals Corporation, who has been a consultant to the Israel Development Ministry under the United Nations technical assistance program, will be board chairman. He will settle in Israel. Some time ago. he contributed $500,000 to the biochemistry building of the Hebrew University.
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