AgraME News
ICL Global Specialty Fertilizers Expansion with Distribution Agreement in China
Global specialty minerals company, ICL, 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.
ICL is committed to continuous innovation and to bringing new ideas and products to partners like AMP. This includes offerings such as the company’s recent introduction of a unique phosphate and potassium specialty suspension solution that was designed specifically for drone application, which is a booming agricultural sector in China.
A strategic specialty fertilizer partner for ICL for several years, AMP Holdings pioneered the distribution of irrigation-based specialty products in China and has been a leader in this area for more than a decade.
“Our soluble fertilizer products are recognized as market leaders in China – a key region for us – and this agreement with AMP Holdings will further strengthen ICL’s position in the premium part of China’s specialty fertilizer market,” said Elad Aharonson, president of ICL Growing Solutions.
Powered by New AG International