ICL Group Ltd. explained

ICL Group Ltd.
Native Name:איי.סי. אל. גרופ בע"מ
Type:Public
Traded As:
Location City:Tel Aviv
Location Country:Israel
Area Served:Worldwide
Revenue: US$ 6.955 billion (2021)
Operating Income: US$ 1.21 billion (2021)
Net Income: US$ 832 million (2021)
Num Employees:13,233 (2021)
Homepage:www.icl-group.com
Footnotes:[1] [2] [3] [4] [5] [6]
Locations:125 offices and plants (2022)

ICL Group Ltd. (Hebrew: איי.סי. אל. גרופ בע"מ) (formerly Israel Chemicals Ltd., ICL)[7] is a multi-national manufacturing concern that develops, produces and markets fertilizers, metals and other special-purpose chemical products. ICL serves primarily three markets: agriculture, food and engineered materials.[8] ICL produces approximately a third of the world's bromine, and is the world's sixth-largest potash producer.[9] It is a manufacturer of specialty fertilizers and specialty phosphates, flame retardants and water treatment solutions.[10]

ICL is majority controlled by the Israel Corporation, one of the largest Israeli conglomerates. In addition to the Dead Sea Works, Israel Chemicals mines phosphates in the Negev desert.[11]

ICL Group serves customers in Asia.[12]

The company's share is a dual stock traded on the Tel Aviv Stock Exchange since 1991 and on the New York Stock Exchange under the symbol ICL, and is part of the Tel Aviv 35 Index.

Operations and business

90% of ICL's sales are exports. Through its subsidiaries, ICL produces 35% of world's bromine, 13% of the world's potash (excluding US-Canada cross-border trade), 9% of the western world's magnesium and 3% of the world's phosphate rock, (excluding US-Canada cross-border trade).[13]

ICL exports fertilizers to Europe and to numerous specialty chemical market segments. In Israel, ICL is the largest supplier of fertilizers and chemicals, as well as one of Israel's largest companies.

60% of ICL's raw products (minerals) are excavated in Israel. ICL also owns and operates underground mines in Spain, United Kingdom (North Yorkshire), China, the United States and South America. Also, in Ethiopia at Danakil mine, Afar Regional State, purchased from Allana Potash Corporation.

Polysulphate

Polysulphate is a brand name for polyhalite fertilizer products produced for farming, turf, and horticulture. Polysulphate is derived from a polyhalite seam that lies NaNm (-2,147,483,648feet) beneath the potash seam at Boulby Mine, England.[14]

Food business

ICL is active in the market for plant-based meat alternatives and invested $20 million in October 2019 to expand its manufacturing capacity and R&D base.[15]

In December 2021, ICL announced the grand opening of a 10,000 square foot alternative protein production facility in St. Louis, Missouri.[16]

Financials

In April 2009, the company was said to be considering a bond offering to raise 500 million shekels ($122 million).[17]

ICL announced in September 2018 that it was launching a tender to buy back $800 million worth of 4.5 percent debt due in 2024 sold to bondholders in 2014.[18] The bonds of the new offer are running for 20 to 30 years.

External links

Notes and References

  1. News: New Israel Chemicals CEO: Big shoes to fill. Ha'aretz. 20 August 2012.
  2. Web site: ISRAEL insider: Nir Gilad.
  3. Web site: Akiva Mozes: Executive Profile & Biography. https://web.archive.org/web/20130928230545/http://investing.businessweek.com/research/stocks/people/person.asp?personId=3723983&ticker=ICL:IT. dead. 28 September 2013. Businessweek. Bloomberg L.P.. 22 September 2013.
  4. Web site: Israel Chemicals - ownership Data. 25 September 2013. 3 August 2014. https://web.archive.org/web/20140803143026/http://bizportal.co.il/Quote/Stock/Stakeholders/281014. dead.
  5. Web site: Israel Chemicals Q3 report. Calcalist. 13 November 2013 . Yedioth Ahronoth Group . 13 November 2013.
  6. ICL . ICL Announces That Johanan Locker Will Conclude his Tenure as Chairman . 2022-06-15 . www.prnewswire.com . en.
  7. Web site: Israel Chemicals Ltd.'s Announcement of a Name Change to ICL Group Ltd. . 16 February 2021 . 28 August 2022 . https://web.archive.org/web/20220828140217/https://sec.report/Document/0001178913-20-001357/ . dead .
  8. Web site: Israel Chemicals teams with Vietnamese co. Globes. 29 September 2013. 2 September 2013.
  9. Web site: Donville . Christopher . Potash Cuts Profit Forecast After Fertilizer Price Drop . Bloomberg . 25 July 2013 . 30 September 2013.
  10. Web site: Israel Corp Limited/The (ILCO:Tel Aviv). https://archive.today/20130929160404/http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=ILCO:IT. dead. 2013-09-29. Businessweek. Bloomberg.com.
  11. https://www.timesofisrael.com/knesset-hears-sovereign-wealth-fund-will-fall-short-of-pms-predicted-bonanza/ Knesset hears sovereign wealth fund will fall short of PM’s predicted bonanza
  12. Web site: ICL Group Ltd - Company Profile and News . 2022-07-04 . Bloomberg.com . en.
  13. http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=ICL:IT Israel Chemicals - Company Profile
  14. Web site: Polyhalite – an almost forgotten potash source back from the brink. Lazenby. Henry. Mining Weekly. 2016-05-19.
  15. Web site: Israel Chemicals invests $20M in plant-based ingredient production. Food Dive. en-US. 2019-10-31.
  16. Web site: ICL Opens New Alternative-Protein Facility in St. Louis. ICL Group. en-US. 2022-06-15.
  17. Web site: Israel Chemicals Mulls 500 Mln Shekel Bond Issue. 12 April 2009.
  18. News: Israel Chemicals seeks to extend debt with 20-30 year bond sale. 2018-05-14. Reuters. 2019-10-31. en.