Israel’s Finance Ministry is considering intervention in Israel Chemicals Ltd. The Ministry is examining the possibility of exercising the state’s rights through its ‘golden share’ in the company. The ‘golden share’ was part of the privatization process of the once state owned company back in the 1990s and allows the government to intervene to defend the state’s vital interests.
The Ministry asked for details from ICL CEO and President Stefan Borgas about plans to lay off 140 workers at Dead Sea Bromine Compounds and the possibility of shutting down production facilities in Israel.
The letter comes as ICL workers at Dead Sea Compounds and Dead Sea Works are continuing their strike and protests have taken place on Sunday and Monday in the southern Israeli towns of Dimona and Arad. The towns, both of which are home to hundreds of ICL workers, were shut off and strike bound. The Histadrut Labor Federation has ordered towns in southern Israel to shut down all services on an appointed day as part of the protest against developments at ICL.
Meanwhile, ICL said the strike has gone from a legitimate labor dispute to a political strike coming on the eve of the country’s general election scheduled for March 17.