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ELECTROCHEMICAL INDUSTRIES (FRUTAROM) LTD. REPORTS THE ACQUISITION OF MEER CORPORATION

 ACRE, Israel, Nov. 16 /PRNewswire/ -- Electrochemical Industries (Frutarom) Ltd. (AMEX: EIF) reported on Nov. 14, 1993 the acquisition of Meer Corporation of North Bergen, N.J.
 EIF hereby announces that an agreement for the acquisition of the assets and certain liabilities of Meer Corporation of New Jersey has been signed by Frutarom Ltd., which is a subsidiary of EIF.
 The acquisition is made by IFC, a wholly owned subsidiary of Frutarom Ltd. IFC had a new corporation named Meer Corporation founded and this corporation has acquired the said assets and liabilities and continues to operate the corporation.
 Meer Corporation is America's leading importer and processor of Natural Botanical Flavor Extracts, Water Soluble Gums, Botanicals and Botanical Extracts, Spice Oleoresins and other natural ingredients.
 The sales turnover of Meer in 1992 was $23.5 million approximately.
 Frutarom Ltd., with its two subsidiaries, Frutarom U.S.A. and Frutarom U.K., is a producer of aromatic chemicals and specialties for the flavor and fragrance industries, as well as a producer of flavors, fragrances and spices.
 Frutarom Ltd. is a wholly owned subsidiary of Electrochemical Industries (Frutarom) Ltd., a public company whose stock is held on the Israeli and U.S.A. stock exchanges. EIF, located in Israel, manufactures and markets chemicals and other raw materials for industrial use.
 More than 54 percent of EIF's stock is held by the ICC Group, which is registered in New York and manufactures, markets and trades chemicals and other raw materials for the plastic and pharmaceutical industries world wide.
 -0- 11/16/93
 /CONTACT: Efrat Venker, corporate secretary of Electrochemical Industries (Frutarom) Ltd., 972-4-851555/
 (EIF)


CO: Electrochemical Industries (Frutarom) Ltd.; Frutarom Ltd.
 Meer Corporation ST: New Jersey IN: CHM SU: TNM


JG-PS -- NY023 -- 4991 11/16/93 10:43 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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