ICL Consolidates Crop Nutrition Sales and Marketing
New model consolidates commodity and specialty fertilizer commercial organizations to drive internal synergies and optimize distribution channels
Jun 22, 2020, 06:00 ET
TEL AVIV, Israel, June 22, 2020 /PRNewswire/ -- ICL Group Ltd (NYSE: ICL) (TASE: ICL), a leading global specialty minerals and specialty chemicals company, announced today it will consolidate sales and marketing infrastructures for crop nutrition inputs. Following the consolidation, sales and marketing efforts of commodity and specialty fertilizers will be undertaken by a single commercial organizational unit that will be managed on a regional basis.
The company expects that this change will optimize sales and marketing channels, better address the ongoing needs of ICL's customers, enhance adoption of new products and broaden regional sales across ICL's ag-related operating divisions. This change will not impact ICL's financial reporting.
Raviv Zoller, President and CEO of ICL commented: "The consolidation of our sales and marketing efforts in the agricultural business is being undertaken as ICL continues to evaluate ways to achieve commercial excellence and increase the efficiency of our global operations. We believe that establishing a single commercial unit facing agricultural end markets will allow us to better leverage ICL's region-specific knowledge, agronomic and R&D capabilities, logistical assets, and customer relationships, as well as to enhance the global operational scale of our crop nutrition business."
Eli Amon, EVP ICL IAS, will lead the consolidated crop nutrition business as well as ICL's Innovative Ag Solutions division. Mr. Amon has been with ICL for 29 years, serving in several executive sales, marketing and logistics roles.
About ICL
ICL Group LTD is global specialty minerals and specialty chemicals company operating bromine, potash, and phosphate mineral value chains in a unique, integrated business model. ICL extracts raw materials from well-positioned mineral assets and utilizes technology and industrial know-how to add value for customers in key agricultural and industrial markets worldwide. ICL focuses on strengthening leadership positions in all of its core value chains. It also plans to strengthen and diversify its offerings of innovative agro solutions by leveraging ICL's existing capabilities and agronomic know-how, as well as the Israeli technological ecosystem. ICL's operations are divided into four business divisions: Industrial Products (bromine value chain and complementary business); Potash; Phosphate Solutions (P2O5 Chain); and Innovative Ag Solutions. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2019 revenues totaled approximately $5.3 billion.
For more information, visit the Company's website at www.icl-group.com.
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