The business vision of one of Israel's most intriguing investment groups was unveiled today. Shari Arison, chair of Arison Investments, which among other things is invested in Bank Hapoalim (LSE: BKHD; TASE: POLI) and Housing and Construction Holding Co.(Shikun u'Binui) (TASE: HUCN), held a press conference today alongside Arison Investments CEO Efrat Peled. The two spoke about the group's strategy and its plans for the future. "This is an advanced vision in its world outlook, a vision that comes from the deepest place inside me," Arison said.
The group's plans focus on entering fields of activity connected to the environment, among them clean energy for transport, water purification, and agriculture and food. It was stressed that the group would not be active in industries inconsistent with its ethical code or harmful to the environment, such as tobacco, arms, alcoholic drinks, and chemicals.
"My desire is to bring about change in everything I engage in, both in business and in philanthropy. As a businesswoman, I believe that the leadership of business people will lead to change in the world, because business and philanthropy know no boundaries," Arison said.
"We want to be in fields and businesses that give added value to Israel and the world," said Peled in a first appearance before the press and media since her appointment as CEO of Arison Investments two-and-a-half years ago. "The first test for every deal is economic," Peled stressed. "If the deal isn't profitable, we won't be there. But we have an additional commitment, which is moral. We want the final product to have added value over and above the business level."
Over the past two-and-a half years, Shari Arison has focused on strengthening her control of the group's subsidiaries, the main ones being Bank Hapoalim, Salt Industries, and real estate company Housing and Construction. Arison now owns 26% of Bank Hapoalim, and 100% of the controlling interest.
After consolidating control, Arison Investments has decided to enter into new activities. Arison said that this was based on expected future world trends with economic potential. "I have been blessed with foresight, and make all my moves via all the platforms available to me in order to safeguard human existence," she said.
As a basis for looking forward, we do research. We examined the question of where the market and the world will be in the next fifteen years in order to see what business needs would flow from that," Peled said.
Published by Globes [online], Israel business news - www.globes.co.il - on September 3, 2008
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