On Thursday, Israel Corp (ILCO.TA), one of Israel’s largest holding companies, reported that the company swung to a fourth-quarter profit thanks to improved results from its chemicals, refining and shipping businesses as the global economy starts to recover.

The press release is quoted as saying:

The company posted a net profit of $126 million, having lost $312 million in the same period of 2008. Israel Corp is the parent of Israel Chemicals (ICL) (ICL.TA), the second-largest company on the Tel Aviv Stock Exchange by market capitalisation, shipping firm Zim, chipmaker TowerJazz (TSEM.TA) (TSEM.O) and Oil Refineries (ORL.TA). Its results were helped by a 15 percent rise in profit at ICL, the world’s sixth-largest potash maker. [ID:nLDE62N1M0].

Click here to access the entire press release

Click here to access Israel Corp Corporate Site