Israel’s ICL Industrial Products, a segment of ICL a global manufacturer of products based on specialty minerals, processed food and engineered materials markets, announced price increases of 5-10% for selected phosphorus-based Fyrol flame retardants manufactured by ICL IP. The price increases are effective immediately, or as contracts with customers permit.
Commenting on the price increases, Greg Symes, ICL IP’s Global Business Unit Director for polyurethane flame retardants, stated, “We have implemented these price increases for select Fyrolphosphorus flame retardants to return our business to a level that allows re-investment, maintain the high level of customer service we currently provide, allow us to continue to lead our industries in new product innovation and to ensure ICL Industrial Products’ position as a reliable supplier of products in the value chain.”
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ICL IP also recently announced restructuring plans for the purpose of reducing its overall costs and to improve its competitive position and maintain its high level of customer service.
ICL IP, one of ICL’s three operating segments, manufactures and markets a broad range of industrial chemicals based on bromine, magnesia, chlorine and salts. ICL-IP’s bromine-based products are life-saving components that reduce the mercury emissions of coal-burning power stations, enhance the safety of deep-water oil and gas drilling operations, and minimize the fire hazard associated with consumer electronics, automobiles, furniture, insulation, and other widely-used products. In addition, the pharmaceutical industry uses bromine as an intermediary in the manufacture of drugs for the treatment of cancer, epilepsy, heart disease and other life-threatening conditions. ICL-IP is the industry’s leading bromine company, and supplies approximately one third of the world’s elemental bromine. It employs approximately 2, 500 employees in Israel and throughout the world.