Workers are unhappy with reports of a Koor sale.
The Histadrut (General Federation of Labor in Israel) Negev division today declared a labor dispute at Makhteshim Agan Industries Ltd. (TASE: MAIN) over reports that IDB chairman and CEO Nochi Dankner plans to sell half his stake in the company. IDB Holding Corp. Ltd. (TASE:IDBH) owns the stake through Koor Industries Ltd. (TASE:KOR).
Histadrut Negev division chairman Meir Babioff said, "The labor dispute is intended to make it clear to Nochi Dankner and Avraham Bigger that the Makhteshim Agan workers committee has no intention of being goods that are transferred from one hand to another in the marketplace." Bigger is the chairman and CEO of Makhteshim Agan.
This is not the first time that the Histadrut has declared a labor dispute at Makhteshim Agan over concerns about a change of ownership of the company. A similar dispute was declared a few months ago over reports that Dankner planned to sell Koor's entire stake in the company. Dankner denied the reports, and Koor actually bought shares.
Published by Globes [online], Israel business news - www.globes-online.com - on April 22, 2008
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