Israel Chemicals Ltd. (ICL) is expanding its specialized fertilizer operations in the U.S. Everris Americas (formerly Scotts Global Professional), an ICL Specialty Fertilizers subsidiary, has acquired the manufacturing capacity of X-Calibur Plant Health Co. The purchase includes a fertilizer coating line and associated handling, processing, and packaging equipment located in Summerville, S.C. The financial details of the acquisition were not released.
“This is part of ICL’s strategy to build leadership in the specialized fertilizer market and to diversify their product mix,” said Jonathan Kreizman, chemical industry analyst at Clal Finance, a leading Tel Aviv-based investment bank. He predicted that ICL would continue to make relatively small investments in this sector as part of the company’s strategy to reduce dependence on potash.
ICL, a leading global fertilizer and industrial chemical company, said that the equipment provides Everris with additional manufacturing capabilities to more rapidly bring its new products to market, including an innovative controlled-release fertilizer technology currently under development by Everris’ Global R&D center in the Netherlands. “Purchasing the X-Calibur equipment provides us with an ideal solution for our expansion needs,” said Ariana Cohen, president of Everris Americas. The equipment is located near Everris’ Charleston production plant, where the company has its controlled-release fertilizer production facilities. Cohen added that the company needs additional manufacturing capabilities to bring its new controlled-release fertilizer technology from concept to the marketplace.