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Pal-Kal Ceiling Incident Scares Rabinovitch Group off Rehovot Mall Deal
"Partners in the Rabinovitch group have refused to take part in the deal to acquire 50% of the Rehovot Mall, after they learned that the mall has a Pal-Kal ceiling. At the same time, banks are hesitating to provide financial coverage for the deal, because of both the ceiling and the high 81% coverage rate required. Nitsba Holdings (TASE: NTBA) said in response that the Pal-Kal ceiling had been repaired and replaced, and the building was 100% safe.
The controversial Pal-Kal ceiling-floor system was invented as a cost-cutting method in the 1980s by then Public Works Department (PWD) chief structural engineer Eli Ron. The system substitutes the conventional steel beam, rebar, and concrete slab floor-ceiling structure with long corrugated tin boxes encased in a concrete web, sandwiched between rebar, and concrete slabs. However, flaws in the concrete casting may cause cracking and corrosion. Pal-Kal was cited as the cause of the collapse of the floor of the Versailles Wedding Hall in Jerusalem on May 24, 2001, which caused the deaths of 23 people, and injured 380.
In July 2001, a crack appeared in the acoustic ceiling of the Rehovot Mall, which is made from Pal-Kal. The mall was closed for three hours, and engineer Uri Kotai of Kotai UBG Building Engineer Ltd. determined that part of the roof constituted a danger to the public. In June 2001, Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) filed a NIS 3.25 million claim against Ron. The claim asserted that cracks had been discovered in the concrete ceiling, and that other damage was present in the mall..."
Source: Elazar Levin. Pal-Kal ceiling incident scares Rabinovitch group off Rehovot Mall deal. The banks are thought to be hesitant to provide financial coverage. Globes Online (27 Dec 2004) [FullText]
Also see: Elazar Levin. Shurka, Rabinovitch buy 50% of Rehovot MallEfraim Shurka and Yair Rabinovitch have already bought a housing block leased to new immigrants through the Ministry of Immigrant Absorption, and supermarkets. Globes Online (26 Dec 2004) [FullText]
The controversial Pal-Kal ceiling-floor system was invented as a cost-cutting method in the 1980s by then Public Works Department (PWD) chief structural engineer Eli Ron. The system substitutes the conventional steel beam, rebar, and concrete slab floor-ceiling structure with long corrugated tin boxes encased in a concrete web, sandwiched between rebar, and concrete slabs. However, flaws in the concrete casting may cause cracking and corrosion. Pal-Kal was cited as the cause of the collapse of the floor of the Versailles Wedding Hall in Jerusalem on May 24, 2001, which caused the deaths of 23 people, and injured 380.
In July 2001, a crack appeared in the acoustic ceiling of the Rehovot Mall, which is made from Pal-Kal. The mall was closed for three hours, and engineer Uri Kotai of Kotai UBG Building Engineer Ltd. determined that part of the roof constituted a danger to the public. In June 2001, Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) filed a NIS 3.25 million claim against Ron. The claim asserted that cracks had been discovered in the concrete ceiling, and that other damage was present in the mall..."
Source: Elazar Levin. Pal-Kal ceiling incident scares Rabinovitch group off Rehovot Mall deal. The banks are thought to be hesitant to provide financial coverage. Globes Online (27 Dec 2004) [FullText]
Also see: Elazar Levin. Shurka, Rabinovitch buy 50% of Rehovot MallEfraim Shurka and Yair Rabinovitch have already bought a housing block leased to new immigrants through the Ministry of Immigrant Absorption, and supermarkets. Globes Online (26 Dec 2004) [FullText]
posted by MyRehovot.info @ 12/30/2004
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