Oil Refineries Ltd. Remains Optimistic About Merger with Carmel Olefins

摘要

Haifa-Oil Refineries Ltd. (ORL) said it and Israel Petrochemical Enterprises (IPE), each holding a 50% interest in Carmel Olefins Ltd., "are moving to bring about the merger" of ORL and Carmel Olefins by the end of this year (PCN, 12 Jan 09, p 3). If concluded, ORL will hold 100% of Carmel Olefins, whose operations are located adjacent to ORL's Haifa Bay refinery. Carmel Olefins purchases most of its feedstock from ORL and returns by-products from its production to ORL and its Gadiv Petrochemical Industries Ltd. subsidiary.