Key Developments For Ampal-American Israel Corporation
Ampal-American Israel Corporation (AMPL.O) (Consolidated Issue listed on NASDAQ Global Market)
Ampal-American Israel Corporation's Subsidiary To Purchase Business Of 012 Smile.Communications Ltd. For Approximately $318 Million
Ampal-American Israel Corporation announced that a wholly owned subsidiary of Ampal, has signed an agreement with 012 Smile.Communications Ltd. to purchase the current on-going business of 012 for 1.2 Billion New Israeli Shekels, or approximately $318 Million.
Ampal-American Israel Corporation's 12.5% Affiliate Gets Gas Contracts
Ampal-American Israel Corporation announced that it has been advised by East Mediterranean Gas Co.(EMG), in which Ampal has a 12.5% interest, that EMG signed three Gas Sale Agreements with respect to three combined cycle cogeneration plants with a total production capacity of 270 Megawatts. The contracts provide for gas deliveries over an 18 year contract period and have a total contract value of $1.3 Billion. Descriptions of the three contracts follow: Ashdod Energy Ltd. - gas supply agreement for the cogeneration plant in the Agan Chemicals factory in Ashdod, Israel, with production capacity of 55 Megawatts and 40 tons of steam per hour, Ramat Negev Energy Ltd. - gas supply agreement for the cogeneration plant in the Makhteshim Chemicals Works factory in Ramat Hovav, Israel, with production capacity of 115 Megawatts and 110 tons of steam per hour and Solad Energy Ltd. - gas supply agreement for the cogeneration plant in the Solbar factory in Ashdod, Israel, with production capacity of 100 Megawatts and 90 tons of steam per hour. These three agreements signed by EMG are joining the three previous gas sale agreements signed between EMG and the Israeli Electric Company, Dorad Energy Ltd., and Nesher.
Ampal-American Israel Corporation Removes From Mid Cap-50 Index On TASE
Ampal-American Israel Corporation announced that it will be removed from the Mid Cap-50 Index on the Tel Aviv Stock Exchange effective July 1, 2009.
Ampal-American Israel Corporation Added To The TA-75 Index On The TASE
Ampal-American Israel Corporation announced that it will become a component of the TA-75 Index on the Tel Aviv Stock Exchange effective July 1, 2009.
Ampal-American Israel Corporation Announces EMG And Egyptian Authorities Signs Amendment To Gas Sales And Purchase Agreement For Gas Sold To EMG
Ampal-American Israel Corporation announced that it has been advised by East Mediterranean Gas Co.(EMG), in which Ampal has a 12.5% interest, that EMG and its upstream supplier in Egypt have finalized and signed an amendment (Amendment) to the Gas Sales & Purchase Agreement (GSPA) with regard to repricing gas sold to EMG. Ampal understands further from EMG that the Amendment to the GSPA includes price increases, periodic price adjustments, and new gas delivery targets. Ampal had previously announced that EMG and the Egyptian authorities had reached an agreement in principle on the repricing of the gas. The possible economic impact of the Amendment to the GSPA on EMG profitability cannot be determined at this time, which may also be affected by fluctuations in the world's natural gas and energy markets, as well as the global economic environment, both in Israel and worldwide.
