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Ampal-American Israel Corporation (Nasdaq: AMPL), a holding company in the business of acquiring and managing interests in various businesses, announced today that it was advised by East Mediterranean Gas Co. ("EMG"), in which Ampal has a 12.5% interest, that this morning an explosive device was placed at a GASCO (the Egyptian gas transport company) location along GASCO’s upstream gas pipeline leading to EMG's pipeline as well as pipelines leading to Jordan, Lebanon, Syria and major Egyptian cement industry and power generating gas consumers in the Sinai Peninsula. The explosive device did not detonate and no damage to the system was reported. As a standard precautionary measure, GASCO temporarily shut down its upstream valve for a short period of time. The upstream valve has been reopened and the gas supply has returned to normal.
In the interim, for several hours earlier today the pressure in the GASCO system subsided causing a corresponding decline in the EMG pipeline pressure, resulting in a slow-down in gas delivery to EMG's Israeli customers. The gas supply to EMG's Israeli customers is back to normal.
Ampal and its subsidiaries acquire interests primarily in businesses located in the State of Israel or that are Israel-related. Ampal is seeking opportunistic situations in a variety of industries, with a focus on energy, chemicals and related sectors. Ampal’s goal is to develop or acquire majority interests in businesses that are profitable and generate significant free cash flow that Ampal can control. For more information about Ampal please visit our web site at
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