ICL to Acquire Vale’s Share of Fosbrasil S.A.
TEL AVIV, Israel, December 23, 2013 /PRNewswire/ –
– Acquisition Expands ICL Performance Products’ Position in Global Markets for
Purified Phosphoric Acid While Expanding Its South American Footprint -
– Acquisition in Line with ICL’s “Next Step Forward Strategy” to Maintain Growth for
the Next Decade through Acquisitions in the Food, Agriculture and Engineered Materials
ICL (TASE:ICL), a global unique minerals-based products producer that fulfills
humanity’s essential needs in the agriculture, food and engineered materials markets,
today announced it has entered into a definitive agreement to acquire Vale Fertilizantes’s
share in Fosbrasil S.A., a joint venture producing Purified Phosphoric Acid and raw
materials for fertilizers located in Brazil. The proposed transaction is subject to the
approval of Brazilian competition authorities (CADE) and other customary approvals. The
purchase of Vale’s shares will increase ICL’s ownership share to a majority position in a
major producer of phosphoric acid in South America.
The transaction supports and is in concert with ICL’s recent announcement on its new
strategy “The Next Step Forward,” as the acquisition is directly connected to targeted
attractive end markets of food, engineered materials and agriculture. Phosphoric acid is a
key ingredient in a variety of food and beverage products, and is also used in food
processing and a number of industrial applications. It is also a key raw material for the
production of phosphate salts.
ICL is an important global producer and marketer of phosphoric acids and phosphates,
with production locations in Brazil, the United States, Mexico, Germany, Israel and China.
This transaction is another example of ICL’s commitment to being a long-term, secure
supplier to its customers, as ICL continues to invest globally in its production
processes, customer technology support capabilities, and overall service levels.
“This acquisition complements ICL’s global position in phosphoric acid and
phosphates,” commented Mr. Mark Volmer, President and CEO of ICL Performance Products. “It
is the next step in the global expansion strategy that we have been following for the past
decade, carrying out complementary acquisitions that have transformed our Company into a
rapidly-growing major global player in the essential needs areas of food, engineered
materials, and agriculture.”
ICL is a global unique minerals based products producer that fulfills humanity’s
essential needs, primarily in three markets: agriculture, food and engineered materials.
The Company’s diversified portfolio of minerals and downstream products help to increase
global food supplies, improve industrial materials and processes, and make energy
exploration activities more efficient and eco-friendly.
ICL produces approximately a third of the world’s bromine, and is the sixth largest
potash producer as well as the leading provider of pure phosphoric acid. It is a major
manufacturer of specialty fertilizers and specialty phosphates, flame retardants and water
treatment solutions. ICL’s mining and manufacturing operations, located in Israel, Europe,
the Americas and China, are supported by a global distribution and supply network.
ICL benefits from a number of unique advantages, including its vertically integrated
activities and complementary and synergistic downstream operations for the production of
unique end products; its balanced and varied product portfolio in growing markets; and its
worldwide presence with proximity to major global markets in developing regions.
ICL’s shares are traded on the Tel Aviv Stock Exchange (TASE: ICL).
About ICL Performance Products
ICL Performance Products produces and markets food and pharma additives, specialty
grades of phosphoric acid and phosphate salts, P2S5, and other products and services for
the detergents, water treatment, paper and hygiene markets. Its production facilities are
located in Europe, North and South America, Israel, Australia and China. For more
information, please visit http://www.icl-pp.com.
PRESS CONTACT Fleisher Communications and Public Relations Neta Schoener +972-50-77144441 email@example.com
SOURCE ICL Ltd