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ICL TO ACQUIRE VALE'S SHARES OF BRAZILIAN FERTILIZER COMPANY FROSBRASIL
Source: ICL news release

ICL (TASE:ICL), a global unique minerals-based products producer that fulfills humanity's essential needs in the agriculture, food and engineered materials markets, today announced it has entered into a definitive agreement to acquire Vale Fertilizantes's share in Fosbrasil S.A., a joint venture producing Purified Phosphoric Acid and raw materials for fertilizers located in Brazil.

The proposed transaction is subject to the approval of Brazilian competition authorities (CADE) and other customary approvals. The purchase of Vale's shares will increase ICL's ownership share to a majority position in a major producer of phosphoric acid in South America.

The transaction supports and is in concert with ICL's recent announcement on its new strategy "The Next Step Forward," as the acquisition is directly connected to targeted attractive end markets of food, engineered materials and agriculture.

Phosphoric acid is a key ingredient in a variety of food and beverage products, and is also used in food processing and a number of industrial applications. It is also a key raw material for the production of phosphate salts.

ICL is an important global producer and marketer of phosphoric acids and phosphates, with production locations in Brazil, the United States, Mexico, Germany, Israel and China. This transaction is another example of ICL's commitment to being a long-term, secure supplier to its customers, as ICL continues to invest globally in its production processes, customer technology support capabilities, and overall service levels.

"This acquisition complements ICL's global position in phosphoric acid and phosphates," commented Mr. Mark Volmer, President and CEO of ICL Performance Products. "It is the next step in the global expansion strategy that we have been following for the past decade, carrying out complementary acquisitions that have transformed our Company into a rapidly-growing major global player in the essential needs areas of food, engineered materials, and agriculture."


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