A total of 17 countries out of the 28-member European Union have now lent their indirect support to the boycott and divestment movement (BDS) which, earlier in the month, had gained a complicated ally in Dutch pension fund ABP.
On June 1, ABP, the third-largest pension fund in the world – with holdings of more than $400 billion – announced that it would divest from two Israeli companies for their role in the manufacturing of cluster munitions.
Aryt Industries Ltd., an Or Yehuda-based company which produces detonators through a subsidiary, Reshef Technologies. According to documents leaked by Wikileaks, in 2009 senior officials admitted some 80 percent of Reshef’s business is with the IDF.
Ashot Ashkelon Industries Ltd., a small aerospace and defense sector manufacturer with less than $100 million in annual revenues, was targeted for divestment for its part in producing cluster munitions – Ashot is also a subsidiary of the government-owned Israel Military industries Ltd. more
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