Israeli chemical company loses millions of dollars after Hezbollah threats

At least 800 employees of Haifa Chemicals will be laid off in the coming weeks as the company closes its two plants that processed ammonia, the AFP News Agency reported on Thursday.

The owner of Haifa Chemicals, Jules Trump, told Israeli Army radio this week that his company was ordered to close its plants by the Tel Aviv regime due to fears over a potential Hezbollah attack on one of the ammonia tanks.

“We have lost hundreds of millions of shekels (tens of millions of dollars) in recent months because, contrary to the promises of the government, there is no alternative solution on the horizon,” he told the radio station.

Trump was ordered to close the plants after Israeli courts convened last week and voted to shutdown the chemical factories.

In the past, Hezbollah’s Secretary General, Sayyed Hassan Nasrallah, has warned Israel that his forces are capable of striking the Haifa ammonia tanks with missiles, prompting the Tel Aviv regime to take action to protect these plants.