Fertilizers and Chemicals Ltd has decided not to purchase the shares due
to financial difficulties.
The management of Dead Sea Works is examining an offer to purchase
half the shares in the in the Olin factory in Virginia, which was
purchased by Dead Sea Bromine and Israel Chemicals.
Thee management of Israel Chemicals offered the purchase of half the
shares it holds in trust to the Dead Sea Works. This followed
Fertilizers and Chemicals Ltd withdrawing intentions of such a purchase
due to its own financial difficulties.
According to Dead Sea Bromine's CEO, Dr. Ehud Fox, the management of
Dead Sea Bromine is also examining the possibility of purchasing the
remaining half of the shares and holding complete ownership of the
factory. In the meantime negotiations are being conducted with Dead Sea
Works for holding and joint ownership of the factory. Yesterday the
managers of Olin Corp discussed this with Fox and Dead Sea Works CEO Uri
Ben Nun.
Approximately a year ago, Dead Sea Bromine and Fertilizers and
Chemicals Ltd, both part of Israel Chemicals, made a successful bid in
an international tender for the purchase of the US firm Olin Corp at a
$50 million pricetag