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Stop CPP investments in firms selling military, police, spy or prison-related products
to Israel

CRH plc Canada
in 2011

$15 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)"
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Formerly called Cement Roadstone Holdings, CRH, is Ireland’s largest listed company. With total assets of US$20.9 billion, it is one of the world's largest suppliers of building materials.

The company was declared by the Ethisphere Institute to be one of the "World’s Most Ethical Companies" in 2011. CRH has also excelled in proclaiming its support for the UN Declaration of Human Rights. The company even operates a "hot line" for "raising concerns" or "reporting a genuine suspicion" that some "ethical behaviour" has been breached. For those in Israel wanting to use this free "confidential," "independent" CRH service, the number to call is 180-941-0347. Please note however that only one language is offered, Hebrew.

Not everyone is convinced of CRH’s ethics or sincerity. For instance, the Ireland Palestine Solidarity Campaign (IPSC), is trying to stop CRH’s complicity in Israel’s illegal and unethical occupation of Palestinian lands.

CRH’s credibility on ethical issues is compromised by the fact that it controls 25% of Mashav Initiating and Development, an Israeli holding company. Mashav owns 100% of Nesher Israel Cement Enterprises. The other 75% of Mashav is owned by the Israel Discount Bank’s IDB Holding Corp. which controls Discount Investment Corp. (DIC). (See IDB in table "CPP Investments.")

Nesher supplies most of the cement sold in Israel and occupied Palestine. It is therefore deeply complicit in a variety of illegal construction activities. The IPSC sums up CRH’s involvement in Israel with these facts:

l "Nesher cement is used in the construction of the illegal Separation wall, the Jerusalem Light Railway project, the illegal colonial settlements and the network of apartheid settler-only roads, underpasses, bridges and tunnels in occupied Palestine.

l "Nesher own 50% Taavura Holdings …involved in haulage and transportation of construction materials.

l "Taavura through Tastit Construction Machinery are the sole importers of Liebherr heavy equipment [from Germany].

l "Liebherr heavy machinery is used to demolish the homes of Palestinians and [in] the destruction of olive groves and farms to facilitate the continued ethnic cleansing of Palestinians and the expansion of Israel’s colonial project in occupied Palestine."

In 2009, Mashav bought Hanson Israel, which is that country’s second largest producer of building materials. Like Nesher, it owns manufacturing facilities in Israeli settlements built illegally on occupied Palestinian land. Hanson has also engaged in illegal mining and quarrying activities in the occupied West Bank.

Teachers for Palestine, which describes itself as a group of "elementary and secondary teachers in Toronto who are working for divestment of the Ontario Teachers’ Pension Plan from corporations that contribute to the system of Israeli apartheid," states that "With the acquisition of Hanson Israel, …CRH is further entrenched in violations of international law in the Occupied Palestinian Territories."



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
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:
, IMI and Rafael

Vertex Venture Capital:
Investing in Israeli High-Tech Companies

Table listing CPP Investments


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.

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Financial Analysis, 10 Year Summary, 2005-2010.

2011 World’s Most Ethical Companies

CRH Code of Conduct


Code of Business Conduct

CRH Divest


Cement Roadstone Holdings