THE OFFICE

Mr. Avner Ben Shach founds Shachevitz, a sothern-Israeli agency of “Sonol” fuel company. The agency took its first step by the establishment of a gas station in Be’er Sheva and was followed by the expansion of the company to the whole southern district of Israel, holding gas stations from Kiryat Gat in the North to Eilat. The company held a fleet of tankers to supply fuel to local settlements and industrial plants.

After the 1967 War, Shachvitz expanded its activities into the Gaza Strip and the Sinai
Peninsula and entered partnerships with local companies for supplying petrol and gas.

Avner Ben Shach founds Petrolgas, Israel’s fourth gas company – and the only company not
owned by a petrol company. The new company becomes an important player in the local gas market
and is able to increase its market segment on the account of veteran gas companies, chiefy Pazgas.
Petrolgas caters to the private and industrial markets and becomes a leader in the field of gas for
private and industrial use in Israel and the Palestinian territories.

Moudi and Ehud, sons of company founder Avner Ben Shech, join the family business and take over company management duties.

Following the gas reform of 1989, the gas market in Israel is transformed. The reform results in an 80% decrease in the profits of Petrolgas and other companies in this sector, and the company is forced to find creative solutions in order to adapt to the new reality.

In light of these circumstances, Moudi Ben Shech turns to Pazgas director Tsadik Bino with a proposal to merge the two companies. The merger was carried out in 1993 under the name Pazgas, and the company’s shares were divided equally between the two companies. Moudi was appointed CEO of the new company.

In January 1997, Moudi was appointed CEO of Pazgas’s parent company, Paz. Up until his retirement in 2007, Ben Shach led Paz to impressive achievements as a leading energy provider in Israel, supplying one third of the country’s fuel. Paz also became the first-ever company in Israel to introduce a chain of convenience stores (Yellow) in its gas stations.

During that time, Ben Shach transferred most of the company’s gas stations (about 250 of them) to the company’s control and signed a gas supply agreement with the PLO. He also spearheaded the acquisition of a refinery in Ashdod and successfully launched Paz in the Israeli stock exchange.
BM Holdings currently holds 4% of Paz shares.

BM Holdings is a family office, continues the Ben-Shach family tradition of business success. The office holds a wide variety of companies and investments in the energy and recycling industries, real estate projects and more innovative and visionary investments.