A new Palestine chemical company, to be known as the Palestine Chemical Industries, was established here today with a capital of $500,000 by Emanuel Neuman, well known American Jewish leader, and Nahum Menn, a Jewish industrialist of Poland.
Dr. Chaim Weizmann, former president of the World Zionist Organization, has agreed to be chairman of the new company, which was formed after a series of conferences between Mr. Neuman and Lord Melchett. Lord Melchett represented the interests of the Imperial Chemical Industries of England.
The new company was officially registered today with the government.
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