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SOURCE ICL Ltd
FR 122P Available Ahead of Schedule; Ramp Up of Sales Expected in Mid-2013
TEL-AVIV, Israel, March 5, 2013 /PRNewswire/ --
ICL (TASE:ICL), a multinational fertilizer and specialty chemicals company, today announced that ICL Industrial Products (ICL IP) has accelerated its introduction of FR-122P, its innovative, new sustainable polymeric flame retardant (FR) to replace the HBCD FR which is currently the standard used in EPS/XPS insulation foams. Commercial quantities of FR-122P are already available, and increased production by ICL IP is expected by July 2013, more than six months earlier than originally planned.
ICL IP anticipates increasing its production levels of FR-122P to thousands of metric tons by mid-2013 and to a level of 10,000 MT during the second half of 2014. Previously, ICL supplied customers with pilot quantities to conduct testing and evaluation processes. Tests conducted to date confirm FR-122P's suitability for use in the full range of EPS and XPS insulation foams.
ICL IP's manufacture of FR-122P derives from the European Union's ban on the use of HBCD, which will take effect in August 2015. To this end, in January 2012 ICL signed a licensing agreement with Dow Global Technologies LLC a subsidiary of The Dow Chemical Company for the manufacture of FR-122P.
Commenting on the news, Mr. Ilan Elkan, ICL IP's VP Flame Retardants, said, "We are very excited to be able to supply our customers with this innovative sustainable product already this year, enabling them to make an orderly transition from HCBD well within the accelerated timeframe set by the EU. We are making the necessary investments to meet the needs of the EPS and XPS industries to enable their uninterrupted manufacture of downstream products without sacrificing fire safety as a key concern. We believe this demonstrates once again our determination to lead the industry towards an ever-more sustainable and environmentally-responsible future."
About ICL Industrial Products
ICL-IP, one of ICL's (TASE: ICL) 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.
ICL is one of the world's leading fertilizer and specialty chemicals companies. For a world challenged by population growth and scarce resources, ICL makes products that increase global food and water supplies and improve industrial materials and processes.
ICL produces approximately a third of the world's bromine and is the 6th largest potash producer in the world. ICL is a leading supplier of fertilizers in Europe and a major player in specialty fertilizer market segments. One of the world's most integrated manufacturers and suppliers of phosphate products, ICL has become the world's leading provider of pure phosphoric acid and a major specialty phosphate player.
ICL is comprised of three core segments: ICL Fertilizers, ICL Industrial Products and ICL Performance Products. Its major production activities are located in Israel, Europe, the US, South America and China, and are supported by major global marketing and logistics networks. ICL benefits from exclusive concessions to extract minerals from Israel's Dead Sea, a vast source of high-quality and low-cost potash, bromine, magnesium chloride and sodium chloride. ICL also mines phosphate rock from Israel's Negev Desert and potash and salt from its mines in Spain and the UK.
ICL's shares are traded on the Tel Aviv Stock Exchange (TASE: ICL).
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