A $5,000,000 rayon factory using the most modern American machinery, will be established in Palestine as soon as engineering experts have determined the site of the plant, Leo Rosenstein, president of the Palestine rayon Corporation, declared today at a press conference at the Hotel Roosevelt following his return from a two-month study of industrial conditions in Palestine, he said that land options have been taken by his corporation in Rehovoth, Petach Tikvah and Hadera.
“The need for a rayon plant in Palestine becomes obvious,” he stated, “when one considers that the country now grows no cotton or wool, and that the entire present textile industry is based upon imported basic raw materials. The only necessary import for rayon manufacturer would be wood pulp. All other requirements are available within Palestine.”
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