Leumi loader in Katzerin, “a settlement of 6,444 people situated in the occupied Le’Israel Golan Height[s].” Katzerin, it says, “was established on the land of the Syr- Canada Pension Plan ian area of Fakhura.” The Bobcat ve- Investments F-15 hicle which is shown at work in this town, is easily identified as an S150 2012 shares=$9 million loader. This model is also listed in Bob- (Direct & indirect investments) cat’s catalogue as using a Kubota-made diesel engine. In fact, of the 18 varie- 2011 shares=$11 million F-16 (Direct investments only) ties of loaders in Bobcat’s catalogue, every one uses a Kubota engine. eumi Le’Israel, the “National The Kubota Engine Division’s Bank of Israel,” has its origins website lists one service representative in the “Jewish Colonial Trust” in Israel, F.K.Generators and Equip- L and the “Anglo-Palestine Company.” ment Ltd. It’s customers includes Isra- Founded in the UK in 1899, as “the fi- Merkava el’s Ministry of Defence, Bezeq, Ta- MK4 nancial instrument of the Zionist Or- diran Electronic Systems (owned by El- ganization,” Leumi is now Israel’s larg- bit Systems) and state-owned Israeli est bank. After Israel’s 1983 financial weapons-maker, Rafael. (See previous crisis, when bankers illegally manipu- issue, pp.11, 28-29 and 49.) Also on lated stock prices, Israel’s government Kubota’s client list are Leumi Le’Israel took over Leumi. Also nationalized and Paz Oil (See pp.13-14 and 30.) Leumi has financed Israeli were Hapoalim and Israel Discount war industries such as TAT Bank. (See previous issue, p.10 and this References Technologies, which makes issue, pp.8-9.) The state is still Leumi’s Corporate Data components for weapons www.kubota-global.net/c-data/data.html top shareholder, with 11.4% of its stock. used by Israel’s military, and Kubota Corporation Leumi has financed Israeli war www.fundinguniverse.com/company-histories/Kubota- industries like TAT and Imagesat. Imagesat which provides Corporation-company-History.html military-intelligence services. AvantGuard TAT Technologies (TAT) g-nius.co.il/unmanned-ground-systems/avantguard.html Leumi and its US subsidiary loaned $12 EROS B AvantGuard million to TAT which makes cooling www.army-technology.com/projects/avantguard systems for military land and airborne unmannedgr/ applications, systems for military shel- AvantGuard UGCV: Driven by Innovation ters and battle vehicles, fuel systems for g-nius.co.il/pdf/brochures/AvantGuardUGCV.pdf F-16s and heat exchangers for F-15s ORCWS 7.62 and F-16s. Israel has received hundreds www.army-guide.com/eng/product2733.html of these two varieties of US warplanes. AvantGuard UGCV TAT’s customers include some g-nius.co.il/unmanned-ground-systems/avantguard.html Aerospace Industries (IAI) and Rafael. of the world’s top war industries, like Tail to teeth: unmanned haulers ease the soldier’s Boeing, EADS, Safran and Thales, as lot on the battlefield, International Defence Re- Imagesat International well as Honeywell and Lockheed Mar- view, January 15, 2010. Leumi gave Imagesat a credit agree- g-nius.co.il/PRclippings/20100115IDR_Tail2Teeth tin (see previous issue, p.39, and this ment “to finance up to $70 million for UGV.pdf issue, pp.15-16.) TAT’s website also the development of its EROS observa- “Four wheels and an electronic brain: Meet IDF’s lists the Israeli Air Force, the US Navy, tion satellites.” Imagesat is a subsidi- newest soldier,” Haaretz, April 28, 2008. Elbit and Rafael, as customers. (See www.haaretz.com/news/four-wheels-and-an-electronic- ary of IAI, but is partly owned by El- brain-meet-idf-s-newest-soldier-1.244794 previous issue, pp.28-29 and 48-49.) bit. Thanks to Imagesat the In 2009, Bank Leumi loaned Bobcat Company “Ministry of Defense in Israel pres- www.whoprofits.org/Company%20Info.php?id=744 US$1.3 million to finance TAT’s pur- ently receives intelligence services chase of Bental Industries. This Israeli WorkSaver BOBCATALOG from three Israeli imaging satellites: www.bobcat.com/publicadmin/getFile.do?id=42006 firm makes motors for “electric turret the two Eros satellites and the mili- Corporations in Katzerin Industrial Zone – and gun control systems” used in Isra- tary satellite, Ofek 5.” Part three, March 25, 2010. el’s Merkava MK4 tank and other ar- corporateoccupation.wordpress.com/2010/03/25/corp orations-in-katzerin-industrial-zone-part-three/ moured vehicles. It also makes motion Investments, Loans & Services technologies for missiles, drone aircraft Leumi subsidiary, Leumi Partners Ltd., Israel - Kubota Engine Division www.engine.kubota.ne.jp/english/prof/wws/wws_net1/ and jet engines. Besides being “a ma- is the bank’s corporate investment arm, nd/israel.htm jor supplier” to the Israel Defense specializing in non-banking companies Customers Forces, Bental’s customers include Is- and funds in Israel. It has encouraged www.fk-generators.co.il/content.php?id=22 rael’s top war contractors: Elbit, Israel investors to buy stocks in top Israeli Fall 2012 (Issue # 67) Press for Conversion! 13 References Dun’s 100 Israel’s Largest Enterprises duns100.dundb.co.il/ts.cgi?tsscript=/2011e/e30a4 TAT Technologies www.wikinvest.com/stock/TAT_Technologies _%28 TATTF%29/General Company Profile www.tat-technologies.com/template/default.aspx? catId=1&PageId=1 Companies news of 2009-11-12 www.digchip.com/companies_news/2009/2009_ 11_12_2.php Customers www.tat-technologies.com/template/default.aspx? catId=5&PageId=5 “TAT to acquire control of motion technology co Bental,” Globes, January 3, 2008. Shlomo Yanai Nahum Admoni Itzhak Hoffi www.globes.co.il/serveen/globes/docview.asp?did= 1000294225 Through its board, Leumi’s history has been tightly interwoven with Through its board, Leumi’s history has been tightly interwoven with Merkava Mk-4 Detailed Israel’s military-industrial, intelligence, homeland security complex. www.defense-update.com/directory/merkava4.htm The bank’s directors have, for instance, included an Israeli Major “Bental showcases Range of Motion and Power General and two former chiefs of Israel’s Mossad. Solutions for UAVs and AFVs at Eurosatory 2010,” June 10, 2010. weapons makers, like Elbit Systems. years, commanding an armored divi- www.defpro.com/news/details/15916/ Leumi Partners has held stakes sion (1992-1994), heading the army’s About ImageSat in Cellcom (5%) and Paz Oil (19%), ground corps R&D and Procurement www.imagesatintl.com/default.asp?catid={F41F454F- 7F6B-49AA-92C4-8EF165929953} but sold these in 2008 and 2009. These division (1994-1996), leading the IDF’s “Satellite tug of war,” Globes, July 6, 2006. firms have long provided products and Southern Command (1996-1998), www.globes.co.il/serveen/globes/docview.asp?did= services to Israel’s military. (See pre- overseeing the IDF HQ planning 1000110139 vious issue, p.17, and this issue, p.30.) branch, and leading its Strategy Plan- “Americans for Peace Now: Middle East Peace In 2009, Leumi Partners paid ning division (1998-2001). Yanai was Report,” July 30, 2001. US$138 million for a 5% stake in Part- also a director of separation-fence con- groups.yahoo.com/group/JustPeaceUK/message/1642? o=1&var=1 ner Communications, a cell company tractor, Magal Security Systems (see serving Israeli soldiers and settlers in Mizrahi Tefahot Bank, p.19), and the Leumi & Co sold its holdings in Cellcom, Sep- tember 15, 2008. the occupied territories. (See p.29.) two pesticide makers that merged to english.leumi.co.il/Articles/5374/ Leumi has also financed “hous- form Makhteshim Agan Industries, a “Elbit Vision Systems Announces Partial For- ing projects in Israeli settlements in oc- subsidiary of Discount Investment giveness and Restructuring of $7m in Bank Debt cupied territory” and has branches in Corp. (See previous issue, p.25.) and Sale of Scanmaster Systems,” June 1, 2010. illegal settlements in the West Bank, Leumi’s board has also had two www.evs.co.il/UserFiles/File/EVS-ScanMaster/Press %20Releases/2010-06-10.pdf Golan Heights and an occupied, settle- former chiefs of the Mossad (Israeli’s ment neighborhood in Jerusalem. This secret intelligence agency). Itzhak “Leumi Partners’ top picks: Clal, Ormat, Elbit,” Jerusalem Post, July 28, 2009. is revealed in the “Who Profits from Hoffi, who was a Leumi director until www.jpost.com/Business/BusinessNews/Article.aspx? the occupation” database which notes 2006, led the Mossad between 1974 id=150061 that Leumi has given “loans and finan- and 1982. He is currently on the board “Leumi to sell its Paz Holdings by 30 June cial services to local authorities of set- of Leumi International Investments, a 2009,” August 22, 2007. tlements.” Leumi also Netherlands-based subsidiary. He has english.leumi.co.il/Articles/5519/ “provides loans for Israeli busi- chaired Tadiran, a subsidiary of Elbit Translation of Immediate Report, Oct. 28, 2009. english.leumi.co.il/static-files/Media%20Server/BLITA nesses operating in the occupied ter- Systems (1994-2000 and 2002- %20English/PDF%20files/Translation%20of%20Immed ritory.... Through its subsidiary, present), and been a director of Orad iate%20Report%20re%20Partner%20Closing%2010.09.pdf Leumi Mortgage Bank (100%), the Hi Tec Systems (see “TE Connectiv- Bank Leumi bank provides mortgages for home- ity,” pp.42-43) and Magal Security Sys- www.whoprofits.org/Company%20Info.php?id=499 buyers in settlements.” tems since 1996. Leumi Mortgage Bank The other Mossad chief on www.whoprofits.org/Company%20Info.php?id=885 Board of Directors Leumi’s board was Nahum Admoni. He Shlomo Yanai Through its board, Leumi has been in- followed Hoffi as Mossad leader, head- investing.businessweek.com/research/stocks/people/ person.asp?personId=4111044 terwoven with the Israeli military-in- ing the agency from 1982 til 1989. Ad- dustrial, intelligence and homeland se- moni was also CEO of Mekorot, Isra- Itzhak Hoffi investing.businessweek.com/research/stocks/people/ curity-complex . For example, retired el’s national water company (see “Sie- person.asp?personId=1106568 Major General Shlomo Yanai, who was mens,” pp.35-36) and a director of Ha- Nahum Admoni on Leumi’s board between 2005 and poalim and Discount Investment Corp. investing.businessweek.com/research/stocks/people/ 2007, served Israel’s military for 32 (See previous issue, pp.10 and 25.) person.asp?personId=1091989 14 Press for Conversion! (Issue # 67) Fall 2012