ICL Completes Acquisition of Supresta
Tuesday August 14, 3:04 am ET
Acquisition Establishes ICL as a World Leader in Phosphorus-Based Flame Retardants
TEL AVIV, Israel, August 14 /PRNewswire-FirstCall/ -- Israel Chemicals Ltd. ("ICL"), a multinational fertilizer and specialty chemicals company, today announced that it has completed the acquisition of Supresta LLC.
Supresta is a leading manufacturer and marketer of phosphorus-based flame retardants. Originally the phosphorus chemicals unit of Akzo Nobel, the Dutch chemical company, Supresta was established in 2004 with the acquisition of its operations from Akzo Nobel by a portfolio company of Ripplewood Holdings LLC, a U.S.-based private equity firm. Today, Supresta employs more than 300 workers in two plants, one in the U.S. and one in Germany. It manufactures more than 80 phosphorus-based products used in industrial applications ranging from flame retardants for polyurethane foam and engineering resins to plasticizers for the plastics industry, functional fluids for power stations and other uses. Supresta operates two R&D and applications centers and markets its products throughout the world, with particular strength in North America and Europe. The acting President and CEO of Supresta is Richard Hooper.
ICL intends to integrate Supresta into its ICL Industrial Products segment to realize synergies in operations, marketing and the purchase of raw materials. The acquisition will diversify ICL Industrial Products' portfolio of flame retardants, enabling it to initiate sales to the polyurethane foam and engineering plastics markets, while also enhancing its geographic marketing reach. In addition, the acquisition will enhance ICL Industrial Products' R&D capabilities through the addition of organophosphorus technology and intellectual property towards the development of next-generation products based on phosphorus.
Rothschild Inc. acted as financial advisor to ICL on this transaction.
About ICL Industrial Products
ICL Industrial Products produces about a third of the world's elemental bromine and is a leading provider of bromine-based downstream products such as flame retardants, clear brines for the oil and gas exploration industries and water treatment biocides. It also produces magnesia and chlorine-based salts. ICL Industrial Products' primary markets include Western Europe, the US, China, Japan and Taiwan. Its revenues for 2006 were $838 million with operating income of $208.9 million.
ICL is one of the world's leading fertilizer and specialty chemicals companies. ICL produces approximately a third of the world's bromine and approximately 10% of its potash. ICL is a leading supplier of fertilizers in Europe and a major player in specialty fertilizer market segments. One of the world's most integrated manufacturers and suppliers of phosphate products, ICL has become the world's leading provider of pure phosphoric acid and a major specialty phosphate player. The Company employs approximately 9,300 employees worldwide.
ICL is comprised of three core segments: ICL Fertilizers, ICL Industrial Products and ICL Performance Products. Its major production activities are located in Israel, Europe, the US, South America and China, and are supported by major global marketing and logistics networks. ICL benefits from exclusive concessions to extract minerals from Israel's Dead Sea, a vast source of high-quality and low-cost potash, bromine, magnesium chloride and sodium chloride. ICL also mines phosphate rock from Israel's Negev Desert and potash and salt from its mines in Spain and the UK.
ICL's (Israel Chemicals Ltd.) revenues for 2006 were $3.3 billion with operating income of $536 million. ICL's shares are traded on the Tel Aviv Stock Exchange.
Source: Israel Chemicals Ltd.
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