TAAS in black for first time since '91

From: Jerusalem Post | Date: April 7, 1997| Author: | Copyright information

News Agencies
Jerusalem Post
04-07-1997
TAAS Israel Industries reached profitability last year for the first time since 1991, when the company changed from an auxiliary unit of the Defense Ministry to a government firm.

TAAS posted a profit of $23 million (before extraordinary items) last year, compared with a $55m. loss (before extraordinary items) in 1995 and 1994.

TAAS announced yesterday that special deductions, mainly early retirement, amounted to $37m. last year, compared with $54m. in 1995. Half the expense is covered by the state, by means of increased company capital.

The net loss, ...

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