Solel Boneh
Encyclopedia
Solel Boneh is the oldest, and one of the largest, construction
and civil engineering
companies in Israel
.
, under the name of Batz , an acronym of Binyan veAvodot Tziburiot . Its first project was to pave a road from Safed
to Tzemah, which is now part of Highway 90. The company was founded as a cooperative
organization in the spirit of socialist
workers' groups, but it encountered financial difficulties, which led in 1923 to the founding of a company named "Solel Boneh," based on the organization but managed as a business corporation.
Solel Boneh had an integral role in building in Mandate Palestine and after Israeli statehood was achieved in 1948. Among other projects, the company built the Northern Israel Fence (the "Tegart Wall") in 1938. During the Mandate era it built bridges, airfields, bases for the British Army
and army projects in Iraq
, Egypt
, Bahrain
and Cyprus
.
Solel Boneh helped strengthen the Israel Defense Forces
during the 1948 Arab-Israeli War
, and it built strongholds and systems to supply water, in practise becoming the basis of the first logistics
unit in the IDF.
In 1961, shares
of Solel Boneh were first traded on the Tel Aviv Stock Exchange
.
Israeli firms, such as Solel Boneh, were often involved in building projects in Africa during the 1960s and 1970s. One reason Operation Entebbe
in 1976 was so well-planned was that the building in which the hostages were being held had been built by Solel Boneh, which still had the blueprints, and supplied them to the government of Israel.
During the years 1960-69, Solel Boneh carried out the construction of the Basilica of the Annunciation in Nazareth
.
In 1984, a subsidiary, Solel Boneh Building and Infrastructure, was founded under full control of the parent company. In 1989, control of Solel Boneh was passed on to Housing & Construction Holding Company Limited
(Shikun U'Binui). In 1996, control of that holding company
, including Solel Boneh, was passed on to Ted Arison
and later to his daughter, Shari Arison
, after his death in 1999.
Construction
In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking...
and civil engineering
Civil engineering
Civil engineering is a professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including works like roads, bridges, canals, dams, and buildings...
companies in Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
.
History
Solel Boneh was founded in 1921 during the first conference of the General HistadrutHistadrut
HaHistadrut HaKlalit shel HaOvdim B'Eretz Yisrael , known as the Histadrut, is Israel's organization of trade unions. Established in December 1920 during the British Mandate for Palestine, it became one of the most powerful institutions of the State of Israel.-History:The Histadrut was founded in...
, under the name of Batz , an acronym of Binyan veAvodot Tziburiot . Its first project was to pave a road from Safed
Safed
Safed , is a city in the Northern District of Israel. Located at an elevation of , Safed is the highest city in the Galilee and of Israel. Due to its high elevation, Safed experiences warm summers and cold, often snowy, winters...
to Tzemah, which is now part of Highway 90. The company was founded as a cooperative
Cooperative
A cooperative is a business organization owned and operated by a group of individuals for their mutual benefit...
organization in the spirit of socialist
Socialism
Socialism is an economic system characterized by social ownership of the means of production and cooperative management of the economy; or a political philosophy advocating such a system. "Social ownership" may refer to any one of, or a combination of, the following: cooperative enterprises,...
workers' groups, but it encountered financial difficulties, which led in 1923 to the founding of a company named "Solel Boneh," based on the organization but managed as a business corporation.
Solel Boneh had an integral role in building in Mandate Palestine and after Israeli statehood was achieved in 1948. Among other projects, the company built the Northern Israel Fence (the "Tegart Wall") in 1938. During the Mandate era it built bridges, airfields, bases for the British Army
British Army
The British Army is the land warfare branch of Her Majesty's Armed Forces in the United Kingdom. It came into being with the unification of the Kingdom of England and Scotland into the Kingdom of Great Britain in 1707. The new British Army incorporated Regiments that had already existed in England...
and army projects in Iraq
Iraq
Iraq ; officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert....
, Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
, Bahrain
Bahrain
' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
and Cyprus
Cyprus
Cyprus , officially the Republic of Cyprus , is a Eurasian island country, member of the European Union, in the Eastern Mediterranean, east of Greece, south of Turkey, west of Syria and north of Egypt. It is the third largest island in the Mediterranean Sea.The earliest known human activity on the...
.
Solel Boneh helped strengthen the Israel Defense Forces
Israel Defense Forces
The Israel Defense Forces , commonly known in Israel by the Hebrew acronym Tzahal , are the military forces of the State of Israel. They consist of the ground forces, air force and navy. It is the sole military wing of the Israeli security forces, and has no civilian jurisdiction within Israel...
during the 1948 Arab-Israeli War
1948 Arab-Israeli War
The 1948 Arab–Israeli War, known to Israelis as the War of Independence or War of Liberation The war commenced after the termination of the British Mandate for Palestine and the creation of an independent Israel at midnight on 14 May 1948 when, following a period of civil war, Arab armies invaded...
, and it built strongholds and systems to supply water, in practise becoming the basis of the first logistics
Logistics
Logistics is the management of the flow of goods between the point of origin and the point of destination in order to meet the requirements of customers or corporations. Logistics involves the integration of information, transportation, inventory, warehousing, material handling, and packaging, and...
unit in the IDF.
In 1961, shares
Share (finance)
A joint stock company divides its capital into units of equal denomination. Each unit is called a share. These units are offered for sale to raise capital. This is termed as issuing shares. A person who buys share/shares of the company is called a shareholder, and by acquiring share or shares in...
of Solel Boneh were first traded on the Tel Aviv Stock Exchange
Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange in Tel Aviv is Israel's only stock exchange.The TASE is the only public market for trading securities in Israel. It plays a major role in the Israeli economy....
.
Israeli firms, such as Solel Boneh, were often involved in building projects in Africa during the 1960s and 1970s. One reason Operation Entebbe
Operation Entebbe
Operation Entebbe was a counter-terrorist hostage-rescue mission carried out by the Special Forces of the Israel Defense Forces at Entebbe Airport in Uganda on 4 July 1976. A week earlier, on 27 June, an Air France plane with 248 passengers was hijacked by Palestinian and German terrorists and...
in 1976 was so well-planned was that the building in which the hostages were being held had been built by Solel Boneh, which still had the blueprints, and supplied them to the government of Israel.
During the years 1960-69, Solel Boneh carried out the construction of the Basilica of the Annunciation in Nazareth
Nazareth
Nazareth is the largest city in the North District of Israel. Known as "the Arab capital of Israel," the population is made up predominantly of Palestinian Arab citizens of Israel...
.
Housing & Construction Holding Company Limited
The Housing & Construction Holding Company Limited is one of the largest construction and infrastructure companies in Israel. Affiliated with the Shari Arison group, it is also an international holding and investment company....
(Shikun U'Binui). In 1996, control of that holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
, including Solel Boneh, was passed on to Ted Arison
Ted Arison
Ted Arison was an Israeli-American businessman who co-founded Norwegian Cruise Lines in 1966 with Knut Kloster and founded Carnival Cruise Lines in 1972....
and later to his daughter, Shari Arison
Shari Arison
Shari Arison is an Israeli-American businesswoman and Israel's wealthiest woman. She is the owner of several businesses, the largest among them Bank Hapoalim....
, after his death in 1999.