ICL Continues Global Specialty Fertilizers Expansion With ~$170 Million Distribution Agreement in China
ICL Group Ltd. Ordinary Shares (ICL)
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Source: Business Wire
Growing Solutions signs agreement with AMP Holdings Group for specialty water soluble fertilizers TEL AVIV, Israel--(BUSINESS WIRE)--ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced it has signed a five-year agreement with AMP Holdings Group Co. Ltd., one of China's top agricultural distribution companies. The agreement, valued at approximately $170 million, will run until 2028 and advances ICL’s stated goal to expand its Growing Solutions product offerings and to position the business for further growth in major end-markets.The agreement is for specialty water soluble fertilizers, which are used in drip irrigation and designed for cash-crops, such as apples, watermelons, vegetables, strawberries, ginger and grapes. It includes a minimum purchase commitment, with certain exclusivity conditions based on brand and region.The rising demand for specialty fertilizers in China has mirrored the growth of high-value crops there, which is driven by t
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