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Israel's high-tech boom a double-edged sword
Firms bought by MNCs are shut down or turned into R&D centres
Add BT as a preferred sourcePublished Tue, Jan 20, 2015 · 09:50 PM
Tel Aviv
ISRAELI entrepreneur Avi Brenmiller says he was coaxed by investors into selling Solel, his solar-thermal power firm, to Germany's Siemens for US$418 million in 2009. Today, little is left of it after Siemens pulled out of the business.
From a thriving company that employed over 500 people, Solel has been reduced to a factory with 50 workers.
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