History
The company was established in 1930 by Moshe Novomeysky. It was known then as the Palestine Potash Company. From 1936, it was a profitable enterprise despite attempts by the German potash cartel to strangle the business by dumping potash at below-cost prices.
In the Israel War of Independence in 1948, the northern half of the production facilities was occupied by the Jordanian Legion, which destroyed the plant and looted the machinery.
In 1951, the company was nationalized by the Israeli government under the Ministry of Development. In 1953, it was renamed the Dead Sea Works.
Read more about this topic: Dead Sea Works
Famous quotes containing the word history:
“Perhaps universal history is the history of the diverse intonation of some metaphors.”
—Jorge Luis Borges (1899–1986)
“I cannot be much pleased without an appearance of truth; at least of possibility—I wish the history to be natural though the sentiments are refined; and the characters to be probable, though their behaviour is excelling.”
—Frances Burney (1752–1840)
“When the history of this period is written, [William Jennings] Bryan will stand out as one of the most remarkable men of his generation and one of the biggest political men of our country.”
—William Howard Taft (1857–1930)