Israeli businessmen will soon inject a little capitalism into the Soviet Union by building multimillion-dollar plants to help ease the shortage of consumer products.
Eli Fisher, owner and chairman of the Dr. Fisher Cosmetics Co., announced Sunday that he just signed an agreement with a senior representative of the Soviet Ministry of Industries.
It calls for the construction of a large factory in the Black Sea region of the Ukraine. The $45 million project will be financed by American investors who have not been identified.
The Fisher company specializes in skin care and hair products, which it exports to the United States, Britain, Germany and Austria.
The Ukraine plant will be built on a 5,500-square-yard site owned by a large Soviet chemical conglomerate.
Meanwhile, Izhar Industries, which manufactures detergents and cooking oils, announced last week it will build a factory in Soviet Georgia.
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
