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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Month of August, 1999
Koor Industries Ltd.
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(Translation of registrant's name into English)
4 Kaufman Street, Tel-Aviv, 68012, Israel
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
FORM 20-F X FORM 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to rule 12g3-2(b) under the Securities Exchange Act of 1934.
YES NO X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_____
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
/s/ Shlomo Heller
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Date: August 9, 1999 By: Shlomo Heller
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Exhibit Description
Translation from Hebrew to English of an Immediate Report
(the "Report"), which was served on the Israeli Securities
Authority, The Tel-Aviv Stock Exchange Ltd. and the
A Registrar of Companies, on July 28, 1999, regarding a
memorandum of understanding which was approved in principle
by and between Koor and its wholly-owned subsidiaries
(Tadiran Ltd. and Elisra Electronic Systems Ltd.) of the
first part and Israel Aircraft Industries Ltd. and Elta
Electronic Industries Ltd. of the other part, for
cooperation on certain subjects in the field of electronic
defense products.
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EXHIBIT A
July 28, 1999
The Securities Authority The Tel Aviv Stock Exchange The Registrar of
22 Kanfei Nesharim St. 54 Ahad Ha'am St. Companies
Jerusalem 95464 Tel Aviv 65202 97 Yafo St.
Jerusalem 91007
Fax: 02-6513940 Fax: 03-5105379
Dear Sirs,
Re: Koor Industries Ltd. (Company No. 52-001414-3) Immediate Report
No. 30/99
Koor Industries Ltd. ("Koor") hereby gives notice as follows:
Today at about midday, a memorandum of understanding was approved in principle
by and between Koor and its wholly-owned subsidiaries (Tadiran Ltd. and Elisra
Electronic Systems Ltd.) of the first part, and Israel Aircraft Industries Ltd.
and Elta Electronic Industries Ltd. of the other part, for cooperation on
certain subjects in the field of electronic defense products.
As part of this cooperation, a joint business venture will be established under
the ownership (in equal parts) of the two parties, into which the parties will
contribute the abilities of each of them in the areas of activity to be defined,
in a manner which make full use of their know-how and infrastructure in order to
enhance their competitiveness in the world's markets and increase the volume of
their business.
Pursuant to the memorandum of understanding, the parties expect to jointly
approve a detailed business plan to be prepared for the joint venture, which
will define, inter alia, the specific areas of occupation, budgets and
resources, mutual relations between the venture and the parties, etc. The
business plan will be prepared within five months.
The memorandum of understanding and operation of the joint venture in the format
agreed upon in the memorandum, require the approval of various entities.
Yours sincerely,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
Secretary
