ICL Expands Polysulphate Distribution Network With Long-term
TEL AVIV, Israel, July 9, 2020 /PRNewswire/ -- ICL Group Ltd (NYSE: ICL) (TASE: ICL), a leading global specialty minerals and specialty chemicals company, today announced the latest in a series of agreements that will significantly broaden the availability of Polysulphate globally. Polysulphate, brand name for Polyhalite fertilizer, is a multi-nutrient, certified organic fertilizer with unique performance attributes that enable nitrogen nutrient efficiency and deliver a very low carbon footprint. ICL, the world's sole producer of Polyhalite, has conducted over 600 field trials of Polysulphate globally, which have resulted in significant yield increases and quality improvements in a wide variety of crops and soils.
As part of ICL's strategy to enable and expand the adoption of Polysulphate globally, it has signed a 5-year agreement with a leading Ukrainian fertilizer distributor for the distribution of an aggregate of 350 thousand tonnes of Polysulphate fertilizers in the Ukraine. This follows the signing of several long-term distribution agreements that have grown ICL's global customer base for Polysulphate and Polysulphate-based added value fertilizers and increased total contracted volumes by 1.1 million tonnes. These include:
- A 5-year agreement referenced above with Transkhimtrade, a leading Ukrainian fertilizer trade company, for the distribution of 350 thousand tonnes in the aggregate;
- A 12-year agreement for the supply of an aggregate of over 500 thousand tonnes of Polysulphate to Polcalc Sp z o.o, a major customer in Poland which uses a unique technology to produce Polysulphate-based fertilizers, creating a long-term strategic partnership to develop and market Polysulphate-based specialty fertilizers;
- A renewable annual framework agreement with 16 regional distributors in China to sell 100 thousand tonnes of Polysulphate and Polysulphate-based fertilizers; and
- A 3-year agreement, with an optional one-year extension to sell Polysulphate as raw material for added value fertilizer production by Fertiberia, S.A., a leading producer and distributor in Spain
Mr. Eli Amon, EVP IAS commented: "We are very happy with the progress we are making towards increasing the global distribution footprint for Polysulphate, as well as our sales volumes, which have grown by 50% in each of the last three years. Significant progress has been made to reach our production run-rate target of 1 million tonnes of Polysulphate by the end of 2020, and our long-term strategic partnerships demonstrate the increasing acceptance of Polysulphate as a unique, high quality fertilizer."
ICL Group LTD is a leading global specialty minerals and chemicals company operating bromine, potash, and phosphate mineral value chains in a unique, integrated business model. ICL extracts raw materials from its unique mineral assets and utilizes technology and industrial know-how to add value for customers in key agricultural and industrial markets worldwide. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2019 revenues totaled approximately $5.3 billion.
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