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Israel, U.S. Industrialist Renew Talks on Bid for Ata Textile Mill

August 7, 1985
See Original Daily Bulletin From This Date

Striking workers at the bankrupt Ata textile complex today expressed cautious optimism that renewed negotiations between the government and American industrialist Jack Nasser for his purchase of the company will finally come to fruition.

Nasser, a partner in the Jordache apparel firm in the U.S., has had several of his previous bids to buy the company turned down by the government over the past three months as unsuitable. Ata is currently in liquidation.

The latest proposal by Nasser is regarded by Treasury officials as forming a “firm basis for negotiations.” Under the plan, the government will be required to invest not more than $13 million to get the plant going again. This includes the write-off of outstanding Treasury loans.

Ata workers are now in the 11th week of a sit-in strike at the firms Kiryat Ata and Kurdaneh factories in the Haifa Bay area. The purpose of the job action is to ensure that workers who are laid off will be paid adequate compensation.

While expressing optimism at the renewed talks with Nasser, the workers said their hopes had been raised and dashed too many times in the past three months to get too excited until an agreement is actually signed.

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