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
BASF has signed an agreement to sell its extruded polystyrene (XPS) Styrodur business to Karl Bachl Kunststoffverarbeitung, a fellow German company, as part of its strategy to focus on expandable polystyrene (EPS).
The approximately 50 employees involved in production, marketing, and sales will remain with BASF.
Barentz, a player in the speciality ingredients sector, has appointed Derk Jan Terhorst as group chief executive officer, effective immediately. Terhorst succeeds Terry Hill, who served as Interim CEO since May 2024. With over three years of experience at Barentz as Group CFO, Terhorst brings a robust background in financial management and strategic oversight.
Former Dow president and CEO Paul Oreffice died on Dec. 26 at his home in Paradise Valley, Arizona. He was 97. During Oreffice’s tenure at Dow, he is often credited with transforming the company from an American-focused industrial power into a global leader in chemicals and plastics.
