The company acquired Supresta for $352 million.
Israel Chemicals (TASE: CHIM) has strengthened its phosphorus-based flame retardant business with the announcement today that it has acquired flame retardant specialist Supresta LLC for $352 million in cash.
Israel Chemicals says it intends to integrate Supresta into ICL Industrial Products, one of its four divisions. The company added that Supresta is the world's leading manufacturer and marketer of phosphorus-based flame retardants.
Supresta ended 2006 with sales of $250 million, unchanged from 2005. Its gross margin for 2006 was 20%, slightly down on the previous year.
Published by Globes [online], Israel business news - www.globes.co.il - on June 25, 2007
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