September 2, 2014 | Israel Chemicals (ICL) announced its plans to close its magnesium factory by 2017. The magnesium factory currently employs 550 workers, nearly 10 percent of the company’s total workforce. ICL, which is Israel’s southern Negev region’s largest employer and one of the largest companies on the Tel Aviv Stock Exchange, stated that the magnesium factory had barely been profitable. ICL was founded in 1968 as a state chemical company until it was privatized and sold to Israel Corp. in 1995.
Subscribe to NoCamels weekly newsletter and get our top stories
Related posts

Cloud Data-Securing Startup Raises $30M
February 01, 2023

Electronic Tampon Eliminates Yeast Infections
February 01, 2023

Humans Beat AI At Guessing People’s Ages
February 01, 2023

$10M For Cyber Company That Protects Small Businesses
January 31, 2023
Facebook comments