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Article: Makhteshim subsidiary seeks to cut jobs: Agan Chemical Manufacturers managing director: Our profit margin fell to 20% during January-September and the future does not look any brighter.
- Article from:
- Globes
- Article date:
- December 18, 2006
CopyrightCOPYRIGHT 2006 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Shay Niv
Dec. 18--MA Industries (Makhteshim Agan) (TASE: MAIN) subsidiary Agan Chemical Manufacturers managing director Abraham Kleiner has written to the company's employees informing them of likely job losses as a result of the significant worsening of the company's results. Kleiner issued the letter after Agan Chemical's workers committee refused, as he saw it, to face the new realities and agree to a cut in salaries in 2006. "2005 saw a significant drop in company results and over the first nine months of 2006, our profit margin has been hit hard, and now stands at 20 percent," wrote Kleiner in his letter to staff. "The future does not look any ...