Dutch Thermphos produces phosphorus pentasulfide, an ingredient in lubrication oil additives, pesticides, and other products.
Israel Chemicals Ltd. (TASE: ICL) has agreed to acquire the phosphorus pentasulfide (P2S5) business assets and operations of Thermphos International BV. The company did not disclose the terms of the acquisition, which will be by Israel Chemicals unit ICL Performance Products.
Phosphorus pentasulfide is a specialty ingredient used in the manufacture of highly technical materials such as lubrication oil additives, pesticides, mining chemicals and other products. Due to its very specialized nature, phosphorus pentasulfide is currently manufactured in only a limited number of plants in the world. Israel Chemicals is a leading manufacturer of phosphorus pentasulfide in North America. Thermphos's phosphorus pentasulfide operations are based in Knapsack, Germany.
"This acquisition complements ICL’s global presence in phosphorus-based specialty ingredients," said ICL Performance Products president and CEO Charles Weidhas. “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 global leader in agriculture, food, water and specialty materials markets."
Published by Globes [online], Israel business news - www.globes-online.com - on February 25, 2013
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