ICL to acquire Supresta

Israel Chemicals Ltd. (ICL), a fertilizer and specialty chemicals company based in Tel Aviv, Israel, announced that it has entered into a definitive agreement to acquire U.S.-based Supresta LLC (Supresta), the world’s largest producer of phosphorus-based flame retardants and other products made from phosphorus. ICL intends to integrate Supresta into ICL Industrial Products to realize operating synergies, including synergies in the purchase of raw materials. The purchase price, which will be paid in cash upon transaction closing, is US$352 million, subject to certain adjustments, mainly working capital. ICL is financing the purchase from its own resources and from existing bank credit lines. After the acquisition, Supresta will become part of the ICL Industrial Products segment, giving the segment annual revenues of approximately US$1.1 billion. (June 25, 2007)