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ELECTROCHEMICAL INDUSTRIES (FRUTAROM) LTD. REPORTS THIRD QUARTER AND NINE-MONTH RESULTS

 ELECTROCHEMICAL INDUSTRIES (FRUTAROM) LTD. REPORTS
 THIRD QUARTER AND NINE-MONTH RESULTS
 ACRE, Israel, Nov. 10 /PRNewswire/ -- Electrochemical Industries (Frutarom) Ltd. (AMEX: EIF) reported today results for the third quarter and nine-month ended Sept. 30, 1992.
 The plants in the Acre complex operated at a high production rate during the period under review. Production of SPVC, the company's main product, increased by 6.5 percent compared to the same period last year.
 Low prices continued to characterize the international PVC markets. The international price of ethylene, the main raw material in the production of PVC, has been decreasing while at the same time a substantial price rise of EDC has been noted.
 Consolidated sales reached NIS 221.4 million (US$ 90.8 million) -- of which NIS 74.5 million (US$ 30.5 million) are accounted for the third quarter -- compared to NIS 215.3 million (US$ 88.3 million) for the same period last year -- an increase of about 3 percent.
 Consolidated sales of Frutarom Ltd., a fully owned subsidiary of the company, amounted to NIS 48.0 million (US$ 19.7 million) which is an increase of 47 percent over the same period last year, i.e. NIS 32.6 million (US$ 13.4 million). Consolidated sales for the third quarter of 1992 amounted to NIS 16.3 million (US$ 6.7 million).
 The net income amounted to NIS 6.2 million (US$ 2.5 million) -- of which NIS 2.8 million (US$ 1.2 million) for the third quarter -- compared to NIS 2.7 million (US$ 1.1 million) for the whole period last year.
 The present investment program, amounting to US$ 24.5 million, is in its final stages of completion. The company is in the process of embarking on a new investment program of US$ 50 million, which was approved by the Israeli Investment Center.
 During the third quarter of 1992, the company's board of directors convened once and its Audit Committee twice.
 ELECTROCHEMICAL INDUSTRIES (FRUTAROM) LTD.
 Consolidated Statement of Operation
 Adjusted For Changes In The Rate Of Exchange
 Of The US$ To The Israeli Currency
 US$1 equal NIS 2.439
 As At Sept. 30, 1992
 Three months ended Sept. 30 1992 1991 1992 1991
 Adjusted NIS 000 US$ 000
 (Unaudited)
 Total sales 74,450 61,021 $30,525 $25,019
 Income (loss) from operations
 before financing 4,709 3,888 1,931 1,594
 Financing expenses - net 1,615 2,724 662 1,117
 Income (loss) after financing 3,094 1,164 1,269 477
 Income (loss) before taxes
 on income 3,118 1,520 1,279 623
 Total taxes on income
 (tax benefit) 296 449 122 184
 Net income for the period 2,822 1,071 1,157 439
 Net income per NIS 1 nominal
 value NIS 0.12 NIS 0.05 $0.05 $0.02
 ELECTROCHEMICAL INDUSTRIES (FRUTAROM) LTD.
 Consolidated Statement of Operation
 Adjusted For Changes In The Rate Of Exchange
 Of The US$ To The Israeli Currency
 US$1 equal NIS 2.439
 As At Sept. 30, 1992
 Nine months ended Sept. 30 1992 1991 1992 1991
 Adjusted NIS 000 US$ 000
 (Unaudited)
 Total sales 221,402 215,295 $90,776 $88,272
 Income (loss) from operations
 before financing 8,609 7,722 3,530 3,166
 Financing expenses - net 4,234 5,605 1,736 2,298
 Income (loss) after financing 4,375 2,117 1,794 868
 Income (loss) before taxes
 on income 4,612 3,673 1,891 1,506
 Total taxes on income
 (tax benefit) (1,593) 990 (653) 406
 Net income for the period 6,205 2,683 2,544 1,100
 Net income per NIS 1 nominal
 value NIS 0.26 NIS 0.11 $0.11 $0.05
 ELECTROCHEMICAL INDUSTRIES (FRUTAROM) LTD.
 Condensed Consolidated Balance Sheet
 Adjusted For Changes In The Rate Of Exchange
 Of The US$ To The Israeli Currency
 US$1 equal NIS 2.439
 As At Sept. 30, 1992
 9/30/92 12/31/91
 US$ 000 NIS 000 NIS 000
 (Unaudited) (Audited)
 Assets
 Current assets $46,137 112,527 98,221
 Deposits and long-term investments 33,037 80,578 44,407
 Fixed assets - net 59,926 146,160 146,162
 Investment is affiliated company 830 2,024 --
 Deferred expenses 3,458 8,434 7,073
 Total assets 143,388 349,723 295,863
 Liabilities and Shareholders' Equity
 Current liabilities 31,673 77,251 66,863
 Long-term debt 38,820 94,682 56,872
 Provision for deferred taxes
 on income and other 11,152 27,200 29,456
 Convertible debentures 19,707 48,065 48,197
 Minority interest 641 1,563 5
 Shareholders' equity 41,395 100,962 94,470
 143,388 349,723 295,863
 -0- 11/10/92
 /CONTACT: Sefi Donner of Electrochemical Industries (Frutarom) Ltd., (in Israel) 972-485-1497/
 (EIF) CO: Electrochemical Industries (Frutarom) Ltd. ST: IN: SU: ERN


PS-OS -- NY051 -- 9273 11/10/92 12:07 EST
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Date:Nov 10, 1992
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