Industry & Business

CRH sells controversial stake in Israel’s only cement firm Mashav

CRH sells controversial stake in Israel’s only cement firm Mashav

January 08
11:34 2016

palestine_wall_isrealIreland based CRH Group has sold its 25% stake in Israel’s only cement firm, Mashav, ending a focus of huge controversy.

CRH has been targeted by pro-Palestinian activists at its AGMs who pressed for the global building materials firm to sell the stake in the Israeli group.

Cement produced by Mashav has been used to build barriers for a widely condemned security wall that separates Israel from the Palenstinian West Bank.

The infamous wall dividing the West Bank from Israel helped inspire dramatic scenes in the recent Brad Pitt film World War Z, where zombies attacked a giant wall protecting Israel.

CRH owned a stake in Mashav since 2001, and for years has drawn fire from some shareholders and international pressure groups for retaining its holding in the company.

Mashav is the holding company for a firm called Nesher, whose cement has ultimately been used to make huge concrete slabs that were used to construct the wall dividing the West Bank from Israel.

Over a decade ago, the Israeli government began building what will eventually be a 700km-long security fence. About 10pc of it comprises a concrete wall that’s about 25 feet high.

The Ireland Palestine Solidarity Campaign is among the groups that for years put pressure on CRH to divest its stake in Mashav. The group has previously staged protests at CRH annual general meetings.

CRH is a leading global building materials group employing over 90,000 people at around 4,000 locations worldwide.

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