The sign was given in 1961. An industrial company was incorporated adjacent to Oil Refineries Ltd. in Haifa (a source of feedstock), whose core business was the manufacture of polyethylene. At this stage, the company was called “Israel Petrochemical Enterprises Ltd.” (hereinafter: “the Company”). Thirty years later, the industrial operations became Carmel Olefins Ltd., the predominant supplier of raw materials to the plastics industry in Israel, while the Company became a public company, whose shares have been listed for trading on the Tel-Aviv Stock Exchange since 1978.