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FRUTAROM, LTD. COMPLETES ACQUISITION OF MEER CORPORATION

 NORTH BERGEN, N.J., Nov. 12 /PRNewswire/ -- Frutarom, Ltd. of Haifa, Israel, today announced the completion of the acquisition of Meer Corporation of North Bergen by its wholly owned subsidiary, International Frutarom 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.
 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 industry 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 with shares traded on the Tel Aviv Stock Exchange and the American Stock Exchange (EIF). Electrochemical Industries (Frutarom) Ltd., located in Israel, manufactures and markets chemicals and raw materials for a variety of industrial uses. Electrochemical Industries (Frutarom) Ltd. is 55 percent owned by ICC Industries Inc., a New York corporation engaged in manufacturing, marketing and trading chemical, plastic and pharmaceutical products worldwide.
 Frutarom U.S.A., Inc. and Meer Corporation will operate as separate companies and maintain their individual identities and product lines. Frutarom U.S.A. will continue to market natural, artificial, and WONF finished flavors; natural flavor distillates and essences; essential oils, and aroma chemicals. Meer Corporation will continue to market botanical extracts, water soluble gums and stabilizer systems, oleoresins and flavor enhancers.
 Meer Corporation will retain its name; however, as a member of the Frutarom Group, it will be substantially enhanced and strengthened. Meer will capitalize on its expertise in botanical extracts and water soluble gums with a major expansion in the domestic and international markets.
 -0- 11/12/93
 /CONTACT: Meer Corporation, 201-861-9500/
 (EIF)


CO: Meer Corporation; International Frutarom Corporation ST: New Jersey IN: SU: TNM

TW-CK -- NY003 -- 3675 11/12/93 12:03 EST
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Publication:PR Newswire
Date:Nov 12, 1993
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