ICL said that its investment in YTH is part of the formation of a phosphate joint venture by ICL and YTH and will deepen their strategic alliance. ICL takes the lead in managing the operation of YPH joint venture’s business which has become a fully operating business unit of ICL, and whose results will be consolidated into ICL’s financial reports. The joint venture is expected to provide ICL with a platform to penetrate growing Asian specialty phosphate markets.
Over the next five years ICL and YTH plan to build specialty plants and triple the JV’s white phosphoric acid (WPA) capacity. The partners have also established a phosphate R&D platform in Kunming (Yunnan province) which is focused on developing next-generation phosphate-based products and process technologies for the YPH JV and their respective businesses.
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Borgas said, “We are pleased to finalize our strategic investment in YTH which is a key element of our strategic alliance with Yunnan Yuntianhua. This investment deepens our strong working relationship with YTH, and we believe that our representation on several YTH governing bodies will help facilitate our efficient management of the YPH JV.”
