Peres: Intel makes Israel the land of milk, honey, and chips

"Who could have dreamed that Kiryat Gat would become one of the highest points of science in the world, the Everest of science."

5 July 12 14:17, Globes' correspondent

"Who could have dreamed that Kiryat Gat would become one of the highest points of science in the world, the Everest of science. This enterprise has existed for 28 years, and has given Israel the push to reach the heights of science. This fab has turned Israel into the land of milk and honey and chips," said President Shimon Peres during a visit to Intel Israel's Fab 28 in Kiryat Gat today.

"Intel has paid in taxes and profits all the money it has received from the State of Israel. The bigger the investment, the bigger the return," said Peres in response to criticism leveled against the grants and tax breaks that Intel Corporation (Nasdaq: INTC) has received from the government.

Peres spoke with Intel Israel and president Mooly Eden and general manager Maxine Fassberg. Peres attributed the company's success to its "determined and sensitive management, which knows not only how to manage machines, but people too, because this is a human achievement."

Eden said, "Intel vision is to create technology that will link all humanity on earth and enrich their lives. When we realize this vision, we'll close social gaps."

Published by Globes [online], Israel business news - www.globes-online.com - on July 5, 2012

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