Israel Chemicals (ICL -0.2%) says it plans to invest $452M for 50% ownership of a joint venture that will operate a fully integrated, phosphate business in China, and will take a 15% strategic holding in Yunnan Yuntianhua, one of Asia's leading producers of phosphate rock. The JV will include a mine that produces 2.5M tons/year of phosphate rock, a downstream phosphate operation and a marketing and sales organization that primarily serves the Chinese and the Asian markets. ICL says the major thrust of the venture's strategy will be its transformation from a commodity fertilizer company to a specialty player in agriculture, food Ingredients and engineered materials.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.