Israel Chemicals Ltd. (TASE: ICL), the leading global producer of bromine-based flame retardants, has signed an agreement with Dow Chemical Company to market the company's new bromine-based polymer. The polymer will be marketed through its subsidiary, ICL Industrial Products, which supplies one-third of world demand for bromine, and the agreement will enable the company to cope with increasing competition in the bromine market.
As per the agreement, Israel Chemicals received a permit to use FR122P - a bromine-based flame retardant polymer, which is used in foam insulation applications are needed for thermal insulation in construction. Dow Chemical's subsidiary, Dow Global Technologies, developed the polymer. Israel Chemicals also reported that it has initiated plans to build a factory to produce 10,000 tons a year of the new flame retardant polymer. The company predicts that it will be able to supply this product starting in 2014, and is exploring a number of potential locations for the facility, including Israel and Holland.
The FR122P flame retardant polymer will replace materials currently being used in construction for insulation, since it offers customers increased safety against fire, and is more environmentally friendly. In experimental production, Israel Chemicals customers have reported that FR122P flame retardant polymer provides a very high level of safety for the foam insulation, and that it is available for immediate use in ongoing manufacturing processes.
Israel Chemicals VP flame retardants Ilan Elkan said, "We are determined to continue to be the leading manufacturer and marketer of the next generation of flame retardants, and we are committed to supplying our customers with a wide variety of quality products that meet their needs everywhere, and at all times."
Published by Globes [online], Israel business news - www.globes-online.com - on January 25, 2012
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