Investor group to set up $50m Dimona silica factory

The factory will be the first built in Dimona in fifteen years.

Ephraim Feinblum is heading a group of investors establishing a silica factory in Dimona, at a cost of $50 million.

The factory's cornerstone will laid next week in a ceremony in the presence of Minister of Industry Trade and Labor Ehud Olmert and Dimona mayor Meir Cohen. Investments in industry of this size have been rare in Israel in recent years. Feinblum, a veteran industrialist and two-time winner of the Kaplan Prize has served in executive positions at Israel Chemicals (TASE:CLIM) and as chairman of Mekorot National Water Company.

Silica is used in the phosphates industry to produce three products: embedded silica as a raw material for the rubber, food, metals, batteries, and cosmetics industries; calcisilicate for the ceramics, plastics, and paint industries; and calcisilicate for industry.

Feinblum said construction of the factory would take two years. 1,200 workers will be employed in construction, and the factory will have 200 employees. All production will be exported. Feinblum said this was the first factory to be established in Dimona in 15 years.

Published by Globes [online] - www.globes.co.il - on January 20, 2004

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