Sources inform ''Globes'' that Makhteshim Agan Industries Ltd. (TASE: MAIN) CEO Erez Vigodman will tomorrow meet the relevant district heads of the Histadrut (General Federation of Labor in Israel), two days after the company's employees threatened "world war" over the possibility that it might be sold to China National Chemical Corporation (ChemChina).
Histadrut Negev District chairman Meir Babiof told "Globes", "If they try to bamboozle us, we'll listen patiently, but we'll announce that they have 14 days to submit to us a written document promising that the factories will stay in Israel." He added that such a document had to guarantee that the factories will stay in Israel for a very long time and that the employees would not be satisfied with a promise for two or three years.
"If the CEO and company heads make it clear to us that they can give us such unequivocal guarantees, we can live with the deal," said Babiof.
Makhteshim's share price rose 2.7% today to NIS 16.85, giving a market cap of NIS 7.53 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on October 13, 2010
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