As Israel celebrates 60 years of statehood, American investors may be looking to invest in shares of Israeli companies.  Haim Israel of Merrill Lynch in Jerusalem has some ideas about smaller companies that may have escaped the attention of U.S. investors.

Everyone knows about generic pharmaceutical giant Teva

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[TEVA  Loading...      (%)   ], but what other promising investments lie on the eastern shore of the Mediterranean?

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"I'll start with Cellcom

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[CEL  Loading...      (%)   ], which is the market leader in terms of cellular providers," Haim Israel told CNBC. 

"Cellcom has roughly 34 percent market share, and has been operational since 1993."

The wireless business boasts other good investments.

"The same goes for Partner Communications

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[PTNR  Loading...      (%)   ], which is the second-largest cellular provider in Israel, with one third of the market, but also the market leader in terms of 3-G services," he said. 

Haim Israel also recommends Israel Chemicals

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[ICLTV  Loading...      (%)   ], like the better-known Teva one of the world's largest pharmaceutical makers.

"[It's] definitely one of the key benefiters from all the agriculture-commodity boom that we've seen over the last year, fifth-largest fertilizer producer in the world, also the biggest producer of bromine compounds in the world," he said.

"It saw a massive increase in revenues, net income -- more than doubled its net income this year -- and we expect the trend to continue."

Disclosures:

Disclosure information for Haim Israel was not immediately available.

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