Sector News

Israel Chemicals looks to divest assets worth $500 million

June 23, 2017
Chemical Value Chain

Israel Chemicals (ICL) is looking to sell off subsidiaries and assets with “low synergies” worth at least $500 million, Chairman Johanan Locker said on Thursday.

Locker, speaking at an investors’ conference, did not elaborate on which assets ICL — one of the world’s largest suppliers of crop nutrient potash — would divest.

He said ICL, which has been hurt by a drop in potash prices, was looking to create available sources of financing for further investments and also to lower debt.

The board, he noted, was formulating a new strategy to guide the future plans and operations of the company to grow ICL’s specialty solutions division and further strengthen the competitiveness of its commodity assets.

By Steven Scheer

Source: Reuters

Related News

September 18, 2020

British company Hydrachem launches Cert. – a household cleaner that destroys COVID-19 in just 60 seconds

Chemical Value Chain

A British company is today launching a household cleaner which destroys the SARS-CoV-2 virus – which causes COVID-19 – in just 60 seconds. Cert. is manufactured by Hydrachem, which has […]

September 18, 2020

European Commission raises EU’s GHG emissions reduction target to at least 55% by 2030

Chemical Value Chain

The European Commission presented today its 2030 climate target plan, in which it sets out a program to reduce EU greenhouse gas (GHG) emissions by at least 55% by 2030, […]

September 16, 2020

Dow to sell trio of US Gulf Coast tank terminals to Vopak JV for $620 million

Chemical Value Chain

Dow has agreed to sell three of its chemical storage terminals on the US Gulf Coast for $620 million to a joint venture (JV) between Vopak (Rotterdam, Netherlands) and investment […]