TEL AVIV, Israel, Oct. 2, 2014 /PRNewswire/ -- ICL (NYSE and 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, today announced that its ICL Industrial Products segment ("ICL IP") has initiated start-up activities of its previously announced manufacturing facility in Israel for the production of FR-122P, ICL IP's new polymeric flame retardant (FR).
The recently completed ICL IP's FR-122P production facility in Israel is currently progressing through the startup stage following the successful feed of raw materials into the plant. The facility will eventually have a production capacity of 10,000MT. It joins ICL IP's other facility for the manufacture of FR-122P which is located in the Netherlands and which already produces and markets commercial quantities of FR-122P. The European facility has the potential to expand further to increase capacity significantly in a relatively short period of time in order to meet growing market demand.
ICL and Albemarle Corporation (NYSE: ALB) previously announced that the two companies have entered into an agreement to establish a joint venture for the production of ICL's FR-122P and Albemarle's GreenCrest™ polymeric flame retardant. The joint venture and its partners will own and operate both the Netherlands FR-122P plant, which is currently operated by ICL, as well as the new Israeli FR-122P plant.
ICL IP's FR-122P product replaces its previous flame retardant, HBCD, currently the standard used in EPS/XPS insulation foams, and which, according to European Union regulations, will be phased out of the market by August 2015. The product derives from a licensing agreement ICL IP entered into with Dow Global Technologies LLC for the manufacture of FR-122P.
ICL IP's increase in its FR-122P production capacity results from growing market awareness and positive feedback from customers following extensive testing and evaluation during the past several years. Industry tests have confirmed FR-122P's suitability for use in the full range of EPS and XPS insulation foams.
Mrs. Anat Tal, Deputy CEO of ICL IP, said, "We are delighted to establish our second FR-122P production facility in order to serve customers in the EPS and XPS industries. We trust that our increased production capacity and the availability of our product will encourage and enable our customers to transition from their use of HCBD within the period mandated by the EU. ICL IP has invested heavily to bring this sustainable polymeric product to market so that our customers can produce their downstream products knowing that they meet the latest fire safety standards. We remain committed to leading our industry in offering innovative, environmentally-friendly fire safety products."
About ICL Industrial Products
ICL IP, one of ICL's three operating segments, manufactures and markets a broad range of industrial chemicals based on bromine, magnesia, chlorine and salts. ICL-IP's bromine-based products are life-saving components that reduce the mercury emissions of coal-burning power stations, enhance the safety of deep-water oil and gas drilling operations, and minimize the fire hazard associated with consumer electronics, automobiles, furniture, insulation, and other widely-used products. In addition, the pharmaceutical industry uses bromine as an intermediary in the manufacture of drugs for the treatment of cancer, epilepsy, heart disease and other life-threatening conditions.
ICL-IP is the industry's leading bromine company, and supplies approximately one third of the world's elemental bromine. It employs approximately 2,500 employees in Israel and throughout the world.
About ICL
ICL, 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 dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs approximately 12,000 people worldwide, and its sales in 2013 totaled circa US$6.3 billion. For more information, visit the company's website at www.icl-group.com
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SOURCE ICL