ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Israel Chemicals to buy Ripplewood's Supresta

July 2, 2007 | APPEARED IN VOLUME 85, ISSUE 27

Israel Chemicals Ltd. has agreed to purchase Supresta, a manufacturer of elemental phosphorus-based products, from private equity firm Ripplewood Holdings. ICL will pay $352 million for Suprestra, which employs 300 people and had 2006 revenues of $249 million. ICL will get plants in the U.S. and Germany that manufacture flame retardants, plasticizers, functional fluids, and other products. The acquisition builds upon ICL's 2005 purchase of the phosphoric acid and derivatives joint venture Astaris from FMC and Solutia for $255 million. ICL, which had 2006 sales of nearly $3 billion, already produces fertilizers, bromine, magnesium, and industrial products. Ripplewood formed Supresta in July 2004 when it acquired Akzo Nobel's phosphorus derivatives business for $271 million. Supresta's performance under Ripplewood was mixed. Sales in 2006 were the same as in 2005, and operating profits were $7.5 million, down from $12.6 million in 2005. In the first five months of 2007, operating profits were $4.8 million, up from $2.7 million in the comparable 2006 period.

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment