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

in 2011

$45 million

This is the online version of
Profiting from Israeli Apartheid:
Canada Pension Plan (CPP) Investments in Corporations Supporting Israelís Military-, Police-, Surveillance-, Prison-Industrial Complex (Part 1)"
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Operating under the slogan, "Heavy Industries, Happy Industries," this South Korean firm Ė the worldís largest shipbuilder Ė says it "pursues the happiness of the global community," and is "improving everyoneís quality of life... [by] building a world of shared dreams."

With assets of US$41 billion, HHI fulfills these noble ideals, in part, by building some of the worldís deadliest vessels of war, including destroyers, frigates and submarines.

Container Ships

HHI also makes massive cargo container ships and oil/chemical tankers. In 2009, HHI delivered the first of nine huge container ships to Israel. These ships, worth US$1.2 billion, were purchased by Israelís Zim Integrated Shipping Services. Zimís new megavessels from HHI carry up to 10,000 (8íx20í) containers. Zim already owns or operates at least 30 other freighters made by Hyundai.

In 2010, Zim Integrated Shipping Services was the target of peaceful protests in the US, Canada, India and South Africa. International protests against Israel were sparked when its armed forces killed nine people aboard a ship trying to deliver humanitarian aid to Gaza. In response, at 5 am. on June 20, 2010, about 500 rallied at Oaklandís port where Zimís ship, the Shensen, was scheduled to dock. Dockworkers refused to unload this Zim containership, which was built by HHI in 2004.

HHIís provision of ships to Zim is significant to Israelís military because the company has a long and proud tradition of shipping war materials to Israel. Zim is Israelís largest cargo shipping company and 10th largest in the world. The company, founded in 1945, was a state-owned enterprise until 2004 when the Israeli government sold its remaining 49% stake. Zim is now almost entirely owned by Israel Corp. (See Israel Corp. in table "CPP Investments.")

As Zim explains: "During Israelís War of Independence in 1948, Zim ships brought precious supplies as well as arms and ammunition to ensure the survival of the young state." And, Zim moved Jewish settlers to Israel, including 100,000 in 1949 alone.

Zimís history also includes aiding the 1973 Yom Kippur war when its ships brought "critical supplies... including vital military equipment, to Israel." Its account goes on to say that "Zim has continued to play this crucial role every time Israel faced conflict. No matter how daunting and dangerous the mission Ė Zim has always been there." (Emphasis added.)

Zimís close ties with Israelís government are illustrated by its corporate leaders. For example, Saul Eisenberg, who founded Israel Corp. in 1968 and led it until his death in 1997, also exerted considerable control over its subsidiary, Zim. In his 1990 book, By Way of Deception, former Mossad officer Victor Ostrovsky noted that:

"The Asia Building, owned by wealthy Israeli industrialist Saul Eisenberg, was right next to [Mossad] headquarters. Because of Eisenbergís connections to the Far East, he was the Mossadís tie in with China. He and his people were doing considerable armament dealing with various places."

Although Zim is no longer state owned, its loyalty to Israelís military interests remains strong. Yaacov Amidror, who is a Major General in Israelís reserves forces, joined the boards of both Zim and Israel Corp. in 2007. He was active there until late 2010 when appointed to head Israelís National Security Council. Prior to joining the private sector, Amidror was the commander of two Israel Defense Forces (IDF) colleges. He also led

"the IDF's Research and Assessment Division, with special responsibility for preparing the National Intelligence Assessment [and] served as the military secretary of the defense minister."

Zimís current choice of chairman, Lieutenant Colonel Nir Gilad, is also telling. Gilad, a helicopter pilot in Israelís reserves, has been the Israel Corpís CEO and President since 2007, and is the former Vice President of Finance for Israel Aerospace Industries, the countryís largest state-owned military company. (See "State-owned Israeli War Industries.") Gilad also held high-ranking posts in Israelís Ministry of Finance and was its Accountant General.

At the 2003 Rothschild Herliya Conference on "The Balance of Israelís National Security," Gilad spoke on a panel called "The Prospects for Israelís Defense Industries" chaired by Major General Amos Yaron, Director-General of Israelís Defense Ministry. This event was sponsored by Israelís Ministries of Defence, Strategic Affairs and Foreign Affairs, as well as by NATO, the US Embassy in Israel, and two Israeli banks (Hapoalim and Leumi). (See Leumi in table, "CPP Investments.")

Demolition Equipment

It is well documented that HHIís Construction Equipment Division makes large, tracked excavators used by Israelís military to destroy Palestinian homes and infrastructure in the occupied West Bank and East Jerusalem. Photographs, videos and accounts of these demolitions reveal that armed Israeli troops evict Palestinians and then oversee the use of HHI equipment.

For example, there are several videos online showing the demolition of homes on November 24, 2011, near Biet Hanena, south of Ramallah in the West Bank. On that occasion, at least a dozen Israeli troops with machine guns used an HHI excavator (a Robex 320 LC-7A) to level Palestinian homes. A Volvo bulldozer was also used in this operation. (See Volvo in table, "CPP Investments.") The online videos which captured this event, note that between 20 and 30 people were left homeless, including six children.

Online photos also provide evidence that Israeli forces used HHI equipment to "destroy a water reservoir used by Palestinian farmers in Hebron" in the Israeli-occupied West Bank, on June 14, 2011.

Other photos, taken on November 18, 2009, show a Palestinian building being wrecked by an HHI 200 W-7 excavator in Issawiyeh, an Arab neighbourhood in occupied East Jerusalem. In each of these cases, HHI excavators were equipped with demolition "hammers," not shovels.

The Israeli Committee Against House Demolitions estimates that since 1967 Israel has demolished about 24,800 Palestinian buildings, mostly homes, in the occupied West Bank, East Jerusalem and Gaza.



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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IW 1000 Company Profile

Google search of Containership

Sabrina Jacobs, "Oakland protest of Israeli ship used anti-apartheid era tactics," Oakland Seen, June 21, 2010.

ZIM history

Victor Ostrovsky, By Way of Deception: A Devastating Insiderís Portrait of the Mossad, 1990.

Holding, Management & Investment Companies

Sharon Shpurer, "National security adviser worked for Israeli firm accused of Iran dealings," Haaretz, January 6, 2011.

Yaacov Amidror

Maj.-Gen. (res.) Yaakov Amidror

"Israel Corp. named Nir Gilad as chairman of Zim Integrated," December 7, 2009.

Nir Gilad

Herzliya Conference, Program

Fadi Arouri, "Demolishing Houses In Beit Hanena Al-Tahta Nov 24, 2011 Ė video."

Israel Facts

Mazin Qumsiyeh, "Jerusalem and a Call for Action," Nov. 4, 2009.

Palestinians watch the demolition of a building in east Jerusalem, November 18, 2009.