ICL and AkzoNobel to Jointly Produce and Market Vaccuum Salt and White Potash

ICL and AkzoNobel to Jointly Produce and Market Vaccuum Salt and White Potash

  PR Newswire

  TEL AVIV, Israel, July 9, 2014

TEL AVIV, Israel, July 9, 2014 /PRNewswire/ --

Memorandum of Understanding calls for ICL Iberia to produce, and AkzoNobel
Chemicals International B.V  to sell and market, up to 1.5M tons of vacuum
salt annually 

ICL (TASE: ICL ), a global manufacturer of products based on specialty
minerals that fulfill essential needs of the world's growing population in the
agriculture, processed food and engineered materials markets, and AkzoNobel
(AEX: AKZO) , a major producer of specialty chemicals and a leading global
paints and coatings company, signed a non binding Memorandum of Understanding
to collaborate on the long-term production and marketing of vacuum salt and
white potash.

The MOU signed by AkzoNobel Chemicals International B.V and ICL's Spanish
subsidiary, ICL Iberia, calls for the production and marketing of 1.5 million
tons of high quality vacuum salt, as well as 50,000 tons of white potash
utilizing best-in-class available technology.

High purity vacuum salt, manufactured from a salt by-product of potash mining,
is used in a variety of applications by the chemical industry and also applied
for specialty grades in the food and feed industries. Under the MOU, the
vacuum salt will be produced by a future joint venture between AkzoNobel
Chemicals International B.V and ICL Iberia and sold by AkzoNobel Chemicals
International B.V. The MOU also calls for AkzoNobel Chemicals International
B.V to enter into an off-take agreement with the joint venture for all of the
vacuum salt produced by the joint venture. The white potash will be produced
and marketed by ICL Iberia.

ICL is currently constructing a production facility for the two products at
its mining facility located in Suria mine in , Catalonia, Spain, within the
scope of a previously announced, €170 million Phoenix Project, to increase
ICL's potash mining and production capacity at its Spanish facilities. .

The parties will benefit from strong synergies including ICL's extensive
mining and production capabilities in Spain, as well as AkzoNobel's experience
and technical know-how to produce the planned volumes of salt and its sales
and marketing networks.

ICL Iberia's manufacturing operation to produce the vacuum salt and white
potash will be fully sustainable, and will further benefit the Central
Catalonia region's employment and manufacturing base.

About ICL 

ICL is a global manufacturer of products based on specialty minerals that
fulfill humanity's essential needs primarily in three markets: agriculture,
food and engineered materials.

The agricultural products that ICL produces help to feed the world's growing
population. The potash and phosphates that it mines and manufactures are used
as ingredients in fertilizers and serve as an essential component in the
pharmaceutical and food additives industries. The food additives that ICL
produces enable people to have greater access to more varied and higher
quality food. ICL's water treatment products supply clean water to millions of
people, as well as to industry around the world. Other substances, based on
bromine and phosphates help to create energy that is more efficient and
environmentally friendly, prevent the spread of forest fires and allow the
safe and widespread use of a variety of products and materials.

ICL benefits from a broad presence throughout the world and proximity to large
markets, including in emerging regions. ICL operates within a strategic
framework of sustainability that includes a commitment to the environment,
support of communities in which ICL's manufacturing operations are located and
where its employees live, and a commitment to all its employees, customers,
suppliers and other stakeholders.

ICL is a public company whose shares are traded on the Tel Aviv Stock Exchange
(TASE: ICL). The company employs approximately 12,000 people worldwide, and
its sales in 2013 totaled US$6.3 billion. For more information, visit the
company's website at http://www.icl-group.com

About ICL Iberia 

ICL Iberia, a subsidiary of ICL based in Catalonia, Spain, is Spain's sole
salt and potash mining company. ICL Iberia exports 75% of its production
mainly to European Union countries, Asia and South America.

About AkzoNobel

AkzoNobel produces and markets salt, chlor-alkali products and derivatives
like monochloroacetic acid (MCA) and chloromethanes. It is Europe's leading
producer of vacuum salt for the chemical industry with production sites in
Hengelo and Delfzijl in the Netherlands and Mariager in Denmark. Its specialty
grade products contribute to the many successes of the food & feed,
pharmaceutical and water treatment industries. 

Forward Looking Statement 

This press release contains forward-looking assessments and judgments
regarding macro-economic conditions and the Group's markets, and there is no
certainty as to whether, when and/or at what rate these projections will
materialize. Management's projections are likely to change in light of market
fluctuations, especially in ICL's manufacturing locations and target markets.
In addition, ICL is likely to be affected by changes in the demand and price
environment for its products as well as the cost of shipping and energy,
whether caused by actions of governments, manufacturers or consumers. ICL can
also be affected by changes in the capital markets, including fluctuations in
currency exchange rates, credit availability, interest rates, etc. 

Contact:Neta Schoener Senior Account Manager M: +972-50-771-4444 T:
+972-3-624-1241 E: netas@fleisher-pr.com W: fleisher-pr.com 
Press spacebar to pause and continue. Press esc to stop.