Commenting on the price increase, Ran Oren, vice president of ICL IP industrial solutions, said: "The bromine business of ICL Industrial Products has faced profit pressure in the past few years. We implement this price increase in order to maintain a high level of customer service and ensure that ICL Industrial Products will continue to invest in its business. In addition, ICL IP recently announced a restructuring plan to reduce overall costs and enhance its competitiveness. "
Introduction of ICL Industrial Products
As one of the three operating subsidiaries of ICL, ICL IP manufactures and produces a wide range of industrial chemicals based on bromine, magnesium oxide, chlorine and salt. ICL-IP bromine-based products are life-saving elements, which can reduce mercury emissions from coal-fired power stations, improve the safety of deep-water oil and gas drilling operations and minimize fire hazards related to consumer electronics, automobiles, homes, insulation and other widely used products. In addition, the pharmaceutical industry uses bromine as an intermediate to produce drugs for treating cancer, epilepsy, heart disease and other life-threatening symptoms. ICL-IP is a leading company in the field of bromine, and provides about one-third of the global base bromine. The company has about 2,500 employees in Israel and around the world.
Introduction to ICL
ICL is a global product manufacturer based on special metals, which can meet the basic needs of human beings in three markets: agriculture, food and engineering materials.
Agricultural products produced by ICL can help feed the growing population around the world. Potassium carbonate and phosphate mined and produced by the company can be used as fertilizer components and as the main components used in pharmaceutical and food additive industries. The food additives produced by ICL increase people’s access to more diversified and better food. ICL’s water treatment products can provide clean water to millions of people and the global industry. Other components based on bromine and phosphate can help to provide more efficient and environmentally friendly energy, prevent the spread of forest fires and realize the safe and extensive use of various products and materials.
ICL benefits from its extensive business all over the world and proximity to large markets, including those in emerging regions. ICL operates in a sustainable strategic framework, which includes commitment to the environment, support for the communities where ICL is engaged in production and employees live, and commitment to all its employees, customers, suppliers and other stakeholders.
ICL is a publicly listed company, and its shares are traded on New York Stock Exchange and Tel Aviv Stock Exchange (both trading codes: ICL). 45% of ICL shares are held by Israel Corporation Ltd, 13.9% by PotashCorp and the rest by Volkswagen. The company has about 12,000 employees worldwide, and its total sales in 2013 was $6.3 billion. For details, please visit http://www.icl-group.com.
the forward looking statements
This press release contains forward-looking assessments and judgments on the macroeconomic situation and the market where the Group is located, and it is impossible to determine whether, when and/or at what speed these expectations can be realized. The forecast of the company’s management is likely to change due to market fluctuations, especially the manufacturing position and target market of ICL. In addition, whether it is caused by the behavior of the government, manufacturers or consumers, ICL is likely to be affected by its product demand and price environment, as well as changes in transportation and energy costs. ICL will also be affected by the capital market, including currency exchange rate fluctuations, credit availability and interest.
Media contact information
Fleisher Communications and Public Relations
Amiram Fleisher
Tel: +972-3-6241241
E-mail: