TEL AVIV, Israel, May 3, 2015 /PRNewswire/ --
ICL (NYSE
& TASE: ICL), a global manufacturer
of products based on specialty minerals that fulfill essential
needs of the world's growing population in the agriculture, food
and engineered materials markets, today announced that its ICL
Industrial Products segment ("ICL IP") is closing a production line
in Israel that produces its
FR-1210 (DECA) flame retardant product.
Due to the move to more sustainable products ICL previously
decided to increase its R&D efforts to develop state-of-the-art
alternatives to FR-1210 that are recommended by the SAFR™
(Systematic Assessment of Flame Retardant) tool that it has
developed and will launch at CHINAPLAS in May 2015.
ICL IP's closure of the FR-1210 production line stems from
customers moving to alternative suppliers, the competitive market
for FR-1210, which includes numerous Chinese producers, the
aforesaid move to more sustainable products, and the high cost of
resuming production following a long strike which makes it
uneconomical.
ICL IP remains committed to the flame retardant business and
will work with all of its customers to ensure an orderly transition
and phase out of its FR-1210 activities.
About ICL
ICL is a global manufacturer of products based on specialty
minerals that fulfill humanity's essential needs primarily in three
markets: agriculture, food and engineered materials. The
agricultural products that ICL produces help to feed the world's
growing population. The potash and phosphates that it mines and
manufactures are used as ingredients in fertilizers and serve as an
essential component in the pharmaceutical and food additives
industries. The food additives that ICL produces enable people to
have greater access to more varied and higher quality food. ICL's
water treatment products supply clean water to millions of people,
as well as to industry around the world. Other substances, based on
bromine and phosphates help to create energy that is more efficient
and environmentally friendly, prevent the spread of forest fires
and allow the safe and widespread use of a variety of products and
materials.
ICL benefits from a broad presence throughout the world and
proximity to large markets, including in emerging regions. ICL
operates within a strategic framework of sustainability that
includes a commitment to the environment, support of communities in
which ICL's manufacturing operations are located and where its
employees live, and a commitment to all its employees, customers,
suppliers and other stakeholders.
ICL is a public company whose shares are dual listed on the New
York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE:
ICL). The company employs approximately 12,500 people worldwide,
and its sales in 2014 totaled US$6.1
billion. For more information, visit the company's website
at http://www.icl-group.com
About ICL Industrial Products
ICL-IP manufactures and markets a broad range of industrial
chemicals based on phosphorous, bromine, magnesium, chlorine and
salts. ICL-IP's products are life-saving components that reduce the
mercury emissions of coal-burning power stations, enhance the
safety of deep-water oil and gas drilling operations, and minimize
the fire hazard associated with consumer electronics, automobiles,
furniture, insulation, and other widely-used products. In addition,
the pharmaceutical industry uses bromine as an intermediary in the
manufacture of drugs for the treatment of cancer, epilepsy, heart
disease and other life-threatening conditions. ICL-IP is one of the
world's largest phosphorous flame retardant providers and the
industry's leading bromine company. ICL-IP supplies approximately
one third of the world's elemental bromine. It employs
approximately 2,500 employees in Israel and throughout the world.
Forward Looking Statement
This press release contains forward-looking assessments and
judgments regarding macro-economic conditions and the Group's
markets, and there is no certainty as to whether, when and/or at
what rate these projections will materialize. Management's
projections are likely to change in light of market fluctuations,
especially in ICL's manufacturing locations and target markets.
In addition, ICL is likely to be affected by changes in the
demand and price environment for its products as well as the cost
of shipping and energy, whether caused by actions of governments,
manufacturers or consumers. ICL can also be affected by changes in
the capital markets, including fluctuations in currency exchange
rates, credit availability, interest rates, etc.
PRESS CONTACT
Amiram Fleisher
Fleisher Communications
+972-3-6241241
amiram@fleisher-pr.com