100 paper industry employees lost their jobs in the first half of 2008.
Hundreds of employees will likely lose their jobs in Israel's paper and carton industry because of a slump in orders, predictsEmkaCEO Ido Klein, who also serves as chairman of the paper and carton division at the Manufacturers Association of Israel. 100 paper industry employees lost their jobs in the first half of 2008.
Klein attributes part of the industry's condition to a drop in both domestic demand and exports. "There are surpluses abroad, and Israel has become the global garbage can. Everyone with surpluses in Europe is looking at the Israeli market to dump their products at low prices, which has delivered a death blow to the local industry," he says.
Klein adds that there is no practical way to ask for a dumping tariff on imports. He also notes that Israel's paper and carton industry exports, which go to 94 countries, totaled $82 million the first half of the year, 5.7% less compared with the first half of 2007. He said that domestic sales totaled $684 million, 1.6% than in the corresponding half.
Published by Globes [online], Israel business news - www.globes-online.com - on October 23, 2008