Company News

Israel Chemicals to expand Dead Sea bromine plant on higher Asia demand

JERUSALEM, Sept 10 (Reuters) - Israel Chemicals (ICL) said on Tuesday it was increasing its bromine compounds capacity after entering into several agreements with customers in Asia.

The company said it will invest about $50 million at its plant near the Dead Sea, where it has exclusive rights in Israel to extract minerals. It anticipates the expansion will generate additional revenues of $110 million a year starting 2021.

The expansion will increase production capacity of TBBA, a bromine compound used primarily in the manufacturing of printed circuit boards for the electronics industry by up to 25,000 metric tonnes annually, it said.

The new agreements in Asia follow a decrease in bromine production in China, said ICL, the word’s largest producer of bromine and bromine-based products. (Reporting by Ari Rabinovitch Editing by Steven Scheer)