HP renews pact with Trade Ministry

Computer and software giant Hewlett-Packard has signed a new industrial cooperation agreement with the Ministry of Industry, Trade and Labor to buy raw materials from Israeli suppliers.

By AVI KRAWITZ
February 22, 2007 06:52

 
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Computer and software giant Hewlett-Packard has signed a new industrial cooperation agreement with the Ministry of Industry, Trade and Labor to buy raw materials from Israeli suppliers. The agreement extends a similar deal the company signed with the ministry's Industrial Corporation Authority 10-years ago, H-P said Wednesday. The ICA works to provide incentives to international companies to work with local suppliers for their hi-tech investments in Israel. Yehoshua Bakola, CEO of HP Israel, said the company had spent around $5.5 billion on Israel technology over the last four years. "The good news is that we are always testing possibilities to make further investments here," he said.

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