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Industry’s Snow Losses Could Reach NIS 170 Million

The joy of seeing the capital coated by a white blanket of snow came at a cost, as the weather-induced production stoppages on Wednesday have brought a loss estimated at NIS 150-170 million to businesses in Jerusalem and the north of Israel.

According to the Manufacturers Association’s department of financial research, the main reason for the losses was the absence of approximately 90 percent of workers in the industrial and business sectors, leaving whole industries at a standstill for the entire day.

The majority of Jerusalemites were stranded in their homes as traffic was shut down on many of the roads in and around the capital.

The estimate did not take into account losses suffered by businesses as a result of flooding, damaged merchandise and other factors.

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Posted by on January 10, 2013. Filed under Israeli News,Slider. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.