ICL Launched its New Strategy: Focus on its Mineral Chain Alongside Accelerated Growth of Advanced Crop Solutions for the Agricultural Space; The Company Will Invest Tens of Millions of Dollars on Technological Innovation in This Field

 

Johanan Locker, ICL Chairman of the Board: "We are examining cooperation with several strategic partners, establishment of innovation laboratories, and a broad spectrum of investment options in Israel, from investments in funds, to establishment of venture capital funds and direct investment in startups"

TEL AVIV, Israel, March 8, 2018 /PRNewswire/ --

ICL (NYSE: ICL) (TASE: ICL) held this morning (Thursday) an investors conference in the Tel Aviv Stock Exchange. At the 'Cultivating the Present, Developing the Future' conference, Johanan Locker, ICL's Executive Chairman, along with Asher Grinbaum, ICL's Acting CEO and the Company's executive management, presented the Company's new strategy for the coming years.

The new strategy is based on two dimensions: the first dimension focuses on optimization and competitive excellence in ICL's mineral chains (potash, phosphates and bromine), which remain the foundation of ICL's activities. The Company will continue to implement efficiency measures, will increase the competitiveness of its mineral assets, and will leverage its competitive capabilities and advantages for its downstream specialty products.

The second dimension is based on accelerated growth in advanced crop nutrition, while leveraging ICL's position and capabilities in the fertilizer market in general, and in the specialty fertilizers market, in particular. In this context, the Company will invest in the development of new products, technologies and solutions geared to the farmer, with increasing use of precision agriculture.

Johanan Locker, ICL Chairman, stated: "ICL's strategy is based on two key foundations: the first is our mineral business, and the second - advanced agricultural solutions. The next generation of farmers will speak a new farming language, even though its aim will remain the same: increasing yields. High-tech has come to agriculture as well. That is the direction the world is going to, and ICL has a lot to offer, with its specialty fertilizers platform that encompasses a broad spectrum, from basic fertilizers to fertilizers that are high-tech level."

Locker added that the Company is taking steps to adapt itself to the changing realities and has declared its intention to invest tens of millions of dollars in the coming years in entrepreneurial initiatives, innovation and development of agricultural technologies: "We are examining cooperation with several strategic partners, establishment of innovation laboratories, as well as a broad spectrum of investment options, from investments in funds, to establishment of venture capital funds and to direct investment in startups."

Asher GrinbaumICL Acting CEO: "As responsible management, keenly aware of the realities on the ground, we understood that we have to do two main things: take meaningful stabilization steps to create a solid foundation for the future and to re-examine and reshape our strategic direction. The actions we took, led to material improvement of our profitability, as well as our cash flow and significantly strengthened our financial position. Thus, creating the financial resources needed to support our future growth. We believe that we have brought the Company to an excellent starting point to implement our strategy, which we presented today, and to ensure ICL's future for the coming years."

The conference's presentations are available on the Company's website:

http://www.icl-group.com/investors/icls-strategy-2018-israeli-investor-conference/

ICL will host a teleconference on March 8, at 8:00 AM EST (1:00 PM London time, 3:00 PM Israel time) to discuss its strategy. Please call U.S.A (toll free): 1866-904-9433, Israel (toll free): 1809-494-254, UK (toll free): 0800-279-7058 or (toll/international):+44(0)1452-580-111. Conference ID: 2979744. The call will also be webcast live at http://www.icl-group.com.

About ICL  

ICL is a global manufacturer of products based on specialty minerals that fulfill humanity's essential needs primarily in three markets: agriculture, food and engineered materials. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs approximately 12,600 people worldwide, and its sales in 2017 totaled US$5.4 billion. For more information, visit the company's website at http://www.icl-group.com.

Investor Relations Contact          
Limor Gruber          
Head of Investor Relations          
+972-3-6844471          
Limor.Gruber@icl-group.com

Press Contact
Maya Avishai
Head of Global External Communications
+972-3-6844477
Maya.Avishai@icl-group.com

 

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SOURCE ICL



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