ICL. Global presence in phosphorus-based specialty ingredients
ICL to buy business in Germany
Israeli fertilizer and specialty chemicals maker agrees to acquire phosphorus pentasulfide business assets, operations of Thermphos International BV
Fertilizer and specialty chemicals maker Israel Chemicals (ICL) agreed to acquire the phosphorus pentasulfide (P2S5) business assets and operations of Thermphos International BV, located in Germany.
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ICL did not disclose financial details. P2S5 is a specialty ingredient used in the manufacture of highly technical materials such as lubrication oil additives, pesticides and mining chemicals.
Due to its specialized nature, P2S5 is manufactured in only a limited number of plants in the world.
ICL's performance products operating segment is a leading manufacturer of P2S5 in North America.
"This acquisition complements ICL's global presence in phosphorus-based specialty ingredients," Charles Weidhas, CEO of ICL performance products, said on Monday.
"It is the next step in the global expansion strategy that we have been following for the past decade."
