JERUSALEM, March 21 Israel Corp, one
of Israel's largest holding companies, reported a sharply wider
loss in the fourth quarter due to steeper losses at its shipping
and electric car units and a smaller profit at its chemicals
Israel Corp said on Thursday its quarterly loss deepened to
$196 million from $25 million a year earlier.
Hurt by tough global economic conditions, shipping unit Zim
recorded a loss of $239 million in the fourth quarter versus
$151 million a year earlier.
The Better Place electric car venture, in which Israel Corp
has a key stake, made a quarterly loss of $231 million, down
from a $59 million loss in the October-December period in 2011.
Israel Corp is also the parent of Israel Chemicals (ICL)
, chipmaker TowerJazz and Oil Refineries
, and holds a stake in Chinese-Israeli carmaker Qoros.
ICL, the world's sixth largest potash producer, posted a
$210 million profit in the fourth quarter, compared with $370
million a year earlier.
Oil Refineries, Israel's biggest refinery, narrowed its
quarterly loss to $72 million from $75 million.
TowerJazz's loss was unchanged at $24 million.
Qoros, a joint venture between Israel Corp and Chery
Automobile Co posted a quarterly loss of $55 million,
compared with $13 million a year earlier.