ISI puts 45 percent Galvex stake up for sale
As widely reported in the press,
Bermuda based offshore company ISI, mainly owned by Barry Bernsten and Daniel Bain and insurance company Zurich RE, has put on the block about 45% of Galvex. The main problem at Galvex was that none of the employees were aware of such offer until it was reported in the press. Therefore, it is understood that the mood at the mill was very negative upon such development. Currently, ISI owns 90% and Zurich RE owns 10% of Galvex.