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CHINESEIsrael Chemicals Ltd. (ICL) forms a joint venture with China's state-owned Yunnan Yuntianhua Group
Release time：2015.01.19 News sources：TIANJIN SINO AG CHEMICALS CO.,LTD viewed：
Israel Chemicals Ltd. (ICL) recently said that under a strategic alliance, it will form a joint venture with China's state-owned Yunnan Yuntianhua Group Co. Ltd. and also acquire a 15 percent stake in the Chinese chemicals company. The actions as part of ICL's efforts to bolster its global phosphate business.
ICL said it will invest up to $500 million in the strategic alliance for 50 percent ownership of the joint venture that will operate a fully integrated phosphate business in China, and also acquire a 15 percent strategic holding in Yunnan Yuntianhua, China's second-largest chemicals maker.
The transaction with Yunnan Yuntianhua represents the next significant execution step of its "Next Step Forward" strategy. The company noted that the transaction will increase its phosphate platform by more than 50 percent and expand its phosphate end-to-end business model across other attractive geographies.
According to ICL, the major thrust of the JV's strategy will be the transformation from a commodity fertilizer company to a specialty player in agriculture, food ingredients and engineered materials.
The joint venture will include a mine that produces about 2.5 million tonnes of phosphate rock annually for the next 30 years, an integrated world-scale downstream phosphate operation, and a marketing and sales organization that primarily serves the Chinese and the Asian markets.
ICL said it will invest up to $500 million in the strategic alliance for 50 percent ownership of the joint venture that will operate a fully integrated phosphate business in China, and also acquire a 15 percent strategic holding in Yunnan Yuntianhua, China's second-largest chemicals maker.
The transaction with Yunnan Yuntianhua represents the next significant execution step of its "Next Step Forward" strategy. The company noted that the transaction will increase its phosphate platform by more than 50 percent and expand its phosphate end-to-end business model across other attractive geographies.
According to ICL, the major thrust of the JV's strategy will be the transformation from a commodity fertilizer company to a specialty player in agriculture, food ingredients and engineered materials.
The joint venture will include a mine that produces about 2.5 million tonnes of phosphate rock annually for the next 30 years, an integrated world-scale downstream phosphate operation, and a marketing and sales organization that primarily serves the Chinese and the Asian markets.
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