TSEM Tower Semiconductor Ltd

Companies in Israel are working to keep their businesses open after Hamas launched a surprise attack on the country over the weekend. Some have closed offices or reduced capacity at specific locations, but others have said their activities remain unaffected by the fighting.

Here is a list of reactions from Israeli companies:

-- Bank Leumi Le-Israel said it has implemented a business-continuity plan to ensure full operational capacity and closed some branches following directives issued by the Israel Defense Forces Home Front Command. Most of Leumi's branches are open and all employees are working, either on-site or remotely, the lender told Dow Jones Newswires.

-- Real-estate company Melisron's malls are limiting customer traffic following the Home Front Command's directives, Chief Financial Officer Oren Hillinger told Dow Jones Newswires. The market response--which saw Melisron's shares fall as much as 3.3%--is an understandable temporary reaction that reflects the uncertainty, he said. "We are focusing at this stage on managing the company's activities and are confident that the stock market will know how to correct the declines in the medium term," Hillinger added.

-- ICL Group said its business activities continue to function. The Israeli chemical manufacturer, alongside its workforce, is actively engaged in relief efforts and volunteer initiatives to assist evacuated residents. ICL remains committed to its customers from a business perspective, while acknowledging the toll of the circumstances on all involved, it said.

-- Energean, an oil-and-gas company listed on both London and Tel Aviv's stock exchanges, said that production, supply and work offshore are continuing. The northern area of Israel--where the company's operations are based--isn't currently under attack, but Energean continues to closely monitor the events to manage any scenario, it said. "Energean is and remains fully committed to underwriting the energy security of Israel during these challenging times," it said.

-- Defense electronics manufacturer Elbit Systems said it is prioritizing its support to the Israeli defense forces while maintaining regular operations to ensure ongoing customer support worldwide.

-- Chip maker Tower Semiconductor said there was no effect on its operations from the situation in Israel and that it continued to work as usual.

-- Chip company Valens Semiconductor said it is fully prepared to ensure continuity of its business, but that some of its employees in Israel were drafted as reserves. "As a fabless semiconductor company, our manufacturing is outsourced to third-party foundry, assembly, and testing facilities in Asia and Europe, without disruption," a spokesperson said.

-- BATM Advanced Communications, a provider of cybersecurity services and laboratory-diagnostic equipment, said it doesn't expect its business performance to be materially affected after the attacks.

-- Windward--a maritime artificial-intelligence company--doesn't expect its business to have taken a material hit from the attacks, it said.

Andrea Figueras, Helena Smolak, Joe Hoppe, Mauro Orru and Christian Moess Laursen contributed to this article.

Write to Barcelona editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

October 09, 2023 11:12 ET (15:12 GMT)

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