Albemarle and ICL enter into long-term supply agreement for sustainable polymeric flame retardants
February 24, 2016
This next generation flame retardant, which is marketed by Albemarle under the brand name GreenCrest® and by ICL under the brand name FR122P, is a sustainable alternative for customers transitioning from hexabromocyclododecane (HBCD)-based flame retardants currently used by the building industry in extruded polystyrene (XPS) and expanded polystyrene (EPS) foam insulation products. Albemarle will supply ICL with bromine for the production of GreenCrest, associated with the agreement. The agreement is subject to certain conditions precedent, including approval of
"With this agreement, we are combining Albemarle's expertise in compaction technology, our technical service capabilities and our unique bromine resource position in
Commenting on the agreement, ICL Industrial Products' Executive Vice President,
Albemarle and ICL will continue to provide independent marketing, sales and technical service to their respective customers in
ICL is a global manufacturer of commodity and specialty products based on specialty minerals that fulfill humanity's essential needs primarily in three markets: agriculture, food and engineered materials.
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, specialty phosphates and flame retardants. ICL's mining and manufacturing activities are located in
The agricultural products that ICL produces help to feed the world's growing population. The potash and phosphates that it mines and manufactures are used as ingredients in fertilizers and serve as an essential component in the pharmaceutical and food additives industries. The food additives that ICL produces enable people to have greater access to more varied and higher quality food. ICL's water treatment products supply clean water to millions of people as well industry around the world. Other substances, based on bromine and phosphates help to create energy that is more efficient and environmentally friendly, prevent the spread of forest fires and allow the safe and widespread use of a variety of products and materials.
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; broad presence throughout the world and proximity to large markets, including in emerging regions.
ICL operates within a strategic framework of sustainability that includes a commitment to the environment, support of communities in which ICL's manufacturing operations are located and where its employees live, and a commitment to all its employees, customers, suppliers and other stakeholders.
ICL is a public company whose shares are dual listed on the
The company employs approximately 14,000 people worldwide, and its sales in 2015 totaled US
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/albemarle-and-icl-enter-into-long-term-supply-agreement-for-sustainable-polymeric-flame-retardants-300224999.html
Albemarle Media Contact: Ashley Mendoza, (225) 388-7137, Ashley.Mendoza@albemarle.com; Albemarle Investor Relations Contact: Matt Juneau, (225) 388-7940, Matt.Juneau@albemarle.com
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