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ICL Announces the Sale of Potash to Customers in China

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ICL Announces the Sale of Potash to Customers in China

PR Newswire

TEL AVIV, Israel, October 12, 2018 /PRNewswire/ --

ICL (NYSE:ICL) (TASE: ICL), a leading global specialty minerals and specialty chemicals company, today announced that it signed several contracts with its customers in China to supply an aggregate 905,000 metric tonnes of potash, with mutual option for additional 375,000 metric tonnes, to be shipped in larger quantities per shipment, by the end of June 2019. The selling prices stipulated in the contract are $60 per tonne above the previous contracts and are in line with recent contract prices in China. The contracts are part of a three-year framework agreements between ICL and its Chinese customers.

This announcement follows ICL's announcement from August 29, 2018, regarding execution of contracts with customers in India for the supply of 775,000 metric tons of potash by June 2019.

About ICL

ICL is a global specialty minerals and specialty chemicals company that operates three core mineral chains - potash, bromine and phosphates - in a unique, integrated business model. The company extracts raw materials from well-positioned mineral assets, and utilizing sophisticated product formulation technologies, creates products that add value for customers in key agricultural and industrial markets worldwide. ICL's operations are divided into four business segments: Potash; Phosphate Solutions (P2O5 Chain); Industrial Products (bromine value chain and complementary business); and Innovative Ag Solutions.  

ICL shares are dual-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 2017 revenues totaled $5.4 billion.

For more information, please visit the Company's website at http://www.icl-group.com.

INVESTOR RELATIONS CONTACT

Limor Gruber  

Head of Investor Relations

+972-3-684-4471

Limor.Gruber@icl-group.com

PRESS CONTACT

Maya Avishai

Head of Global External Communications

+972-3-684-4477

Maya.Avishai@icl-group.com

SOURCE ICL

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