ICL GROUP LTD Signs Contracts for the Sale of 910,000 Metric
TEL AVIV, Israel, May 8, 2020 /PRNewswire/ -- ICL GROUP LTD (NYSE: ICL) & (TASE: ICL), a leading global specialty minerals and specialty chemicals company, announced that it has signed several contracts with its customers in China to supply an aggregate 910,000 metric tons of potash, with mutual options for additional 490,000 metric tons, by the end of 2020. The selling prices stipulated in the contracts are $70 per ton below the previous contracts and are in line with the recent contract prices in China. The contracts are part of the three-year framework agreements signed in 2018 between ICL GROUP LTD and its Chinese customers.
About ICL GROUP LTD
ICL is a global specialty minerals and specialty chemicals company operating bromine, potash, and phosphate mineral value chains in a unique, integrated business model. ICL GROUP LTD extracts raw materials from well-positioned mineral assets and utilizes technology and industrial know-how to add value for customers in key agricultural and industrial markets worldwide. ICL GROUP LTD focuses on strengthening leadership positions in all of its core value chains. It also plans to strengthen and diversify its offerings of innovative agro solutions by leveraging ICL GROUP LTD's existing capabilities and agronomic know-how, as well as the Israeli technological ecosystem. ICL GROUP LTD's operations are divided into four business divisions: Industrial Products (bromine value chain and complementary business); Potash; Phosphate Solutions (P2O5 Chain); and Innovative Ag Solutions. ICL GROUP LTD 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. For more information, visit the Company's website at www.icl-group.com.