Monday, November 05, 2007

Carmel Olefins to acquire 49% of a petrochemicals company in Europe

Carmel Olefins has signed an MOU to acquire 49% stake in a European petrochemicals company for €20 million. The name of the company has not been disclosed. As per the terms of the MOU, Carmel Olefins might also pay up to an additional €1 million a year for five years beginning in 2013. Carmel Olefins is equally owned by Israel Petrochemical Enterprises Ltd. and Oil Refineries Ltd.

Related Posts by Categories

Read daily plastics industry news at