Ampal Concludes Formation of a New Communication Provider in Israel With Motorola.NEW YORK--(BUSINESS WIRE)--Jan. 5, 1998--Mr. Raz Steinmetz, Chairman of the Executive Committee of the Board of Directors of Ampal-American Israel Corporation (AMEX AMEX See: American Stock Exchange :AIS.A) and Dr. Yehoshua Gleitman, Chief Executive Officer of Ampal, announced the signing today of an agreement to implement Ampal's plans announced on November 17, 1997 to purchase a one-third interest in the shared networks operation of Motorola Communications Israel, Ltd. (Motorola Israel). Closing of the transaction is subject to receipt of regulatory approvals in Israel expected to be received shortly. The purchase price is US$110 million, to be obtained by Ampal from its own resources and from bank financing. Mr. Steinmetz and Dr. Gleitman said that Ampal will consider sharing its investment with other investors. A new wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. service provider one-third owned by Ampal and two-thirds owned by Motorola Israel will coordinate and operate in Israel the digital and analog public-shared two-way radio A voice network that provides an always-on connection enabling the user to just "push the button and talk." Also called "dispatch radio," two-way radio has traditionally been used by police, fire, taxi and other mobile fleets. services previously furnished by Motorola Israel. The digital wireless communications service is based on Motorola's iDEN(TM) integrated wireless communication technology, which is known as MIRS MIRS Modular Integrated Robotized System MIRS Mid-Infrared Spectrometer MIRS Management Information & Retrieval System MIRS Multimedia Information Retrieval Services MIRS Microwave Integrated Retrieval System MIRS MEPCOM Integrated Resource System in Israel. Multi-functional iDEN technology allows rapid communication for people in workgroups by enabling four services in a single handset: high-quality mobile telephone, two-way radio, text messaging Sending short messages to a smartphone, pager, PDA or other handheld device. Text messaging implies sending short messages generally no more than a couple of hundred characters in length. , and data capabilities. iDEN systems have been deployed around the world, including the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. Dr. Gleitman noted that Ampal's investment in the new service provider represents a cornerstone in its strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. for the future. This area of activity is expected to serve as the basis for other Ampal activities in communications and technology, in both the Israeli and international markets. Ampal and its subsidiaries acquire interests in businesses located in the State of Israel or that are Israeli-related. An important objective of Ampal is to make investments in companies which take advantage of growth in Israel's high technology sector, which has become of world-class stature. Ampal and its subsidiaries have diversified interests in the following sectors: high technology and communications, hotels and leisure-time, real estate, finance, energy distribution, basic industry, as well as others. CONTACT: Ampal-American Israel Corp. Lawrence Lefkowitz, 212/782-2100 |
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