Ireland’s second-largest company announced earlier this month that it had entirely sold-off its 25 per cent stake in the holding corporation of Israel’s only cement-making firm. This withdrawal followed a decade-long campaign by Irish activists calling on the company, CRH, to divest from Israeli cement-maker, Nesher.
The Irish company had admitted “in all probability” that cement from the firm had been used to build Israel’s apartheid wall in the West Bank (which the World Court declared illegal in 2004). Nesher’s cement is also used in the construction of Israeli settlements in the West Bank – which are build on land belonging to dispossessed and expelled Palestinians and are illegal under international law.
The sale was the largest of 13 divestments CRH made in 2015, totalling €260 million, according to a new report released by the company. While CRH denied that there was anything other than purely business motives behind their decision to divest, the sale of the huge stake in Nesher is part of a growing trend.
Continue reading over at MEMO.