ICL to Release its Trapped Profits and Will Pay Tax in the Amount of 380 Million NIS
TEL-AVIV, Israel, November 10, 2013 /PRNewswire/ --
ICL (TASE:ICL), today announced that it's Board of Directors resolved to release all the trapped profits of the companies DSW and Rotem Amfert Negev. As a result, ICL will pay tax in the amount of 380 million NIS.
ICL is a leading specialty minerals company that fulfills essential needs of the world's growing population, primarily in three markets: agriculture, food and engineered materials. The Company's diversified portfolio of products help to increase global food supplies, improve industrial materials and processes, and make energy exploration activities more efficient and eco-friendly.
ICL produces approximately a third of the world's bromine, and is the sixth largest potash producer as well as the leading provider of pure phosphoric acid. It is a major manufacturer of specialty fertilizers and specialty phosphates, flame retardants and water treatment solutions. ICL's mining and manufacturing operations, located in Israel, Europe, the Americas and China, are supported by a global distribution and supply network.
ICL benefits from a number of unique advantages, including its vertically integrated activities and complementary and synergistic downstream operations for the production of unique end products; its balanced and varied product portfolio in growing markets; and its worldwide presence with proximity to major global markets in developing regions.
ICL's shares are traded on the Tel Aviv Stock Exchange (TASE: ICL).
Forward Looking Statement
This press release contains forward-looking assessments and judgments regarding macro-economic conditions and the Group's markets, and there is no certainty as to whether, when and/or at what rate these projections will materialize. Management's projections are likely to change in light of market fluctuations, especially in ICL's manufacturing locations and target markets. In addition, ICL is likely to be affected by changes in the demand and price environment for its products as well as the cost of shipping and energy, whether caused by actions of governments, manufacturers or consumers. ICL can also be affected by changes in the capital markets, including fluctuations in currency exchange rates, credit availability, interest rates, etc.
Fleisher Communications and Public Relations
SOURCE ICL - Israel Chemicals Ltd