Thursday, January 24, 2008

Oil Refineries Subsidiary Carmel Olefins acquires 49% of Netherland-Based D...

Israel's largest oil refiner - Oil Refineries Ltd. (ORL)'s wholly owned foreign subsidiary Carmel Olefins Ltd. has agreed to acquire 49% of the outstanding share capital of Domo Polypropylene BV. Carmel Olefins is a private company in which ORL holds 50% stake. Completion of the transaction is subject to the approval of the relevant anti-trust authorities as well as the receipt of an environmental report with respect to the condition of the ground on which the Domo plant is situated.

For more details please click on the following link
http://plastemart.com/plasticnews_desc.asp?news_id=11574&P=P

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