Israel Chemicals Ltd. will invest about US$50 million to boost its bromine compounds capacity and keep up with demand from customers in Asia and especially China, where production has decreased amid environmental regulatory pressure.
The company said Sept. 10 that it expects the expansions to generate additional annual revenues of up to US$110 million starting in 2021.
Israel Chemicals' ICL Industrial Products division will boost its capacity of bromine compound TBBA, which is used in making printed circuit boards, by at least 25,000 tonnes per annum at its bromine compounds plant near the Dead Sea.
The unit also plans to raise by 50% its capacity of FR1025, a flame retardant used in the automotive industry, as well as enlarge its isotank fleet by around 10%.
In the second quarter, Israel Chemicals reported attributable net income of US$158 million, rising from US$101 million the year before.
