Carmel Olefins Reaches Agreement To Acquire 49% of Dutch PP Maker

摘要

Haifa-Carmel Olefins Ltd., an equally owned joint venture of Oil Refineries Ltd. (ORL) and Israel Petrochemical Enterprises Ltd., has signed an agreement to acquire 49% of the outstanding share capital of Dutch firm Domo Polypropylene BV. Noting that this is Carmel Olefins' first acquisition of a foreign production facility, ORL said the agreement follows a letter of intent signed by the two parties last November. Terms of the acquisition were not disclosed.