Israel's Koor faces hard times ahead.
Regional, Business, 9/23/1997

With the deterioration peace process between Israel and Palestinians, Koor industries of Israel is expected to witness some very hard times.

The US based Shamrock holding announced last August that it is selling about half its holdings in Koor.

Koor industries is Israel's largest industrial institution in the fields of electronics, communications, chemicals, and building materials.

Shamrock president Stanley Gold, said Koor "suffers the negative impacts of the showdown in the Middle East peace process.

Analysts said that despite the decline in sales of some of Koor's production outside Israel, especially in Middle East markets, returns on investments made by Koor activities ranged around 50%.

The 1997 economy of Israel is projected to have zero growth, with unemployment on the rise and exports down. Koor, which almost went bankrupt in the late 1980s, flourished in the past five years, during which the Israeli economy expanded by 50% parallel to the stepped up peace efforts last year, which has been described by observers as Koor's last heyday, Koor profited some $180.8 million on sales of 43.5 billion which were up eight percent compared to the previous year.

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