ICL completes Astaris acquisition

The final purchase price will be determined within 90 days from Friday - the day the deal closed.

November 7, 2005 07:10
1 minute read.


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


Israel Chemicals completed the acquisition of the business and assets of US specialty phosphate manufacturer Astaris, providing the company with access to markets in North and South America. Israel Chemicals (ICL) bought the assets from FMC Corp. and Solutia, which owned Astaris as a joint venture. Approvals needed before completing the deal included US anti-trust authorities and the court overseeing the reorganization of Solutia under US Chapter 11 bankruptcy regulations. The final purchase price will be determined within 90 days from Friday - the day the deal closed. When it first unveiled the deal, ICL had said it would pay $255m. subject to adjustment based on the amount of Astaris's working capital and expenditures at the time of closing. ICL plans to integrate Astaris's assets into its performance products division, thereby increasing its sales to $1 billion a year. The division's primary products are high-added-value food additives, while Astaris's products are used in the food, detergent, semiconductor, and flat-screen industries. Astaris, which had an operating profit of $13.8m. and revenue of $350.9m. in 2004, employs 570 people in factories in the US and Brazil and markets its products in North and South America. ICL's performance products business has plants in Europe, Israel, China, and Brazil and concentrates its sales in Europe and the Far East. ICL's shares closed down 1.4% at NIS 17.34 in Tel Aviv Stock Exchange on Sunday.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection


Cookie Settings