Discount Investment Corp.


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Discount Investment Corp.	Canada Pension Plan (CPP) Investment in 2011 = $1 million	This is the online version of "Profiting from Israeli Apartheid: Canada Pension Plan (CPP) Investments in Corporations Supporting Israel’s Military-, Police-, Surveillance-, Prison-Industrial Complex (Part 1)" (Here's a coupon to subscribe, renew, order copies or make a donation to COAT. To pay online, use the "Transfer Funds" button at the COAT homepage.)
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One of Israel’s largest holding companies, DIC was created in 1961 as an investment vehicle for the Recanati family, who then owned the Israel Discount Bank (IDB). (See IDB in table "CPP Investments.") The IDB and other Recanati-family businesses were controlled by an umbrella company called the IDB Holding Corp. In 2002, the Recanati family sold these investments to a group of investors led by Israeli billionaire Nochi Danker, who now controls DIC. When describing its "major investments" in 15 Israeli firms, DIC says it "is active" in their "direction and management." DIC’s holdings include: l Nesher Israel Cement Industries (75%): It supplies building materials for Israel’s separation wall, and various Israeli infrastructure projects in the occupied territories. The other 25% is owned by CRH plc. l Expand Networks: Its products increase data-transfer efficiencies for large computer networks. Its customers include NATO and all branches of the US armed forces. l Elron Electronic Industries (48.7%): Elron partnered with Israeli arms maker Rafael, to form the Rafael Development Corp. (RDC). (See Rafael in "State-owned Israeli War Industries.") Elron owns 50.1% of RDC while the rest is owned by Rafael. Through this "Strategic Alliance" with Rafael, Elron say it "initiates and develops new companies, leveraging its exclusive access to the military technologies of Rafael." (Elron partnered with Israel’s military in 1966 to create Elbit, the country’s top-ranking war industry.) Elron’s VP since 2005, retired Brigadier General Yair Cohen, led special unit 8200, Israel’s central military intelligence unit. (See "Israeli Spy Companies.") l Ham-Let Advanced Control Technology (60%): This leading international producer of instrumentation valves and fittings, supplies many industrial sectors, including the military. l Cellcom (46.8%): This company is a leading supplier of cell phone services to Israel’s military. l Makhteshim Agan Industries (MAI): This DIC subsidiary produces agricultural chemicals and "additives for explosives." Its directors include Ephraim Halevy, who began working for Israel’s foreign intelligence agency, the Mossad, in 1961. He led the Mossad (1998-2002), before heading Israel’s National Security Council (2002-2003). MAI’s board also includes Dani Harari, a retired Brigadier General with 32 years in Israel’s military. The online database "Who Profits from the occupation" lists six DIC holdings and says they are complicit in the following categories of complicity in Israel’s occupation of Palestine: (1) Services to settlements: This includes discriminatory services provided solely to the occupants of Israeli settlements, and not to Palestinians. (2) Israeli Construction on Occupied Land: Israeli housing and infrastructure annex land and resources to Israel, and cut off Palestinians from the same. (3) Palestinian Captive Market: Providing goods/services to Palestinians at high costs, and exploiting Israel’s restrictions on Palestinians who cannot purchase them at competitive prices. (4) Settlements’ Products: Some Israeli settlements in the occupied territories have businesses, factories or farms that sell products in Israel and/or abroad. Here are the six DIC holdings cited in "Who Profits." The numbers in parentheses indicate involvement in the above-listed categories of complicity: l Cellcom (1,2,3) l Property & Building Corp. (1,4) l Koor Industries (4) l Makhteshim Agan Ind. (4) l Maxima Air-Separation (4) l Shufersal (4) DIC’s links to the world of Israel’s military and intelligence are revealed not only in the companies it controls, but in the company it keeps. Nochi Dankner, DIC’s chairman and major shareholder, is a "Major (res.) in the Israel Air Force." And, Nahum Admoni, DIC’s external director (1999-2004), was the chief of Israel’s secret intelligence agency, the Mossad, between 1982 and 1989. Admoni also served as a director of Banks Hapoalim and Leumi Le’Israel. (See Leumi in table "CPP Investments.")
			COAT research (published in Issues 66 and 67 of Press for Conversion!) exposes that in 2011 the CPP owned about $1.5 billion worth of shares in 68 corporations supplying Israel with military, police, surveillance and prison-related products. To read COAT's research on the first half of these 68 companies, click the pdf links below to see the print version of Issue 66. Or, click each company name for the web version.) (Articles on the second set of 34 companies are in Issue #67 of Press for Conversion!):
			pdf 3M Co pdf Amdocs Ltd pdf Analog Devices Inc pdf AT&T pdf BAE Systems pdf Bank Hapoalim pdf Bezeq pdf Bharat Electronics Ltd pdf CAE Inc pdf Carlyle Group pdf Caterpillar Inc pdf Cellcom Israel pdf Cemex pdf Cisco Systems pdf CRH plc pdf Daewoo Engineering & Construction pdf Daimler AG pdf Delek Group pdf Dell Inc pdf Discount Investment Corp pdf Doosan Corp pdf Eaton Corp pdf Elbit Systems pdf EMC Corp pdf Evraz Group pdf Fiat Industrial pdf Fiat SpA pdf Finmeccanica pdf Fujitsu Ltd pdf Hewlett-Packard Co pdf Hitachi Ltd pdf Honeywell International pdf Hyundai Motor Co pdf Hyundai Heavy Industries Additional resources from this issue: Israeli Spy Companies: Verint and Narus State-owned Israeli War Industries: IAI, IMI and Rafael Vertex Venture Capital: Investing in Israeli High-Tech Companies Table listing CPP Investments Poster Table listing CPP Investments worth $1.5 billion in 66 companies supporting Israel's military, police, surveillance, prison-industrial complex. Table listing additional investments totalling $4.5 billion by six large Canadian pension funds (including CPP) in the 66 companies researched by COAT. *Social Networking - Facebook* Stir things up with friends by joining our Facebook group: *"Stop Canada Pension Plan Investments in Israeli Apartheid"*
References Discount Investment Corporation, Wikipedia http://en.wikipedia.org/wiki/Discount_Investment_Corporation DIC Holdings www.dic.co.il/1471.html About DIC www.dic.co.il/79.html Amiram Barkat, "Nesher in talks to sell surplus electricity to IEC," Globes, June 28, 2010. www.globes.co.il/serveen/globes/docview.asp?did=1000570112&fid=1725 "A cell-phone holder in every tank," Globes, April 11, 2002. www.globes.co.il/serveen/globes/docview.asp?did=577256 Customers / Government www.expand.com/Industries/Index.aspx?URL=/Industries/Government.aspx A Strategic Alliance - Elron and Rafael www.elron.net/default.asp?PageID=234 Ham-Let Advanced Control Technology www.ham-let.com/lang1/home/default.aspx?a=1 Makhteshim-Agan Industries Ltd. www.encyclopedia.com/doc/1G2-2690100056.html Ephraim Halevy http://investing.businessweek.com/businessweek/research/stocks/private/person.asp?personId=9429162 Global Leadership Group www.ma-industries.com/our-group/group-leadership/global-leadership-group "Who Profits from the occupation" www.whoprofits.org Nochi Dankner http://investing.businessweek.com/research/stocks/people/person.asp?personId=2438821 Nahum Admoni http://investing.businessweek.com/research/stocks/people/person.asp?personId=1091989