ICL, a global manufacturer of products based on unique minerals, fulfills humanity’s essential needs, primarily in three markets: agriculture, food and engineered materials.
Today’s global environment is characterized by several “mega trends” that are occurring simultaneously. These trends include: Boost in the demand for higher quality food in greater quantities: the world’s population is growing and more than seven billion people currently live on earth. This growth trend is due to continue, and there will be two billion additional people on earth by 2050. This phenomenon is greatly enhanced by the fact that alongside the increase in the number of people in the world, arable land is limited, and a larger quantity of agricultural produce must be grown in each area. Continuous increase of the middle class: a rise in the standard of living of billions of people around the world also entails changes in eating habits – more varied and richer food consumption – alongside a greater demand for various products ,including necessities and leisure products. The growing middle class consumption is expected to almost double within a decade.
Increase in the use of minerals and natural resources: the increase in the world’s population and a rise in the standard of living have resulted in a significant increase in the consumption of energy, water and a variety of vital minerals, especially bromine, phosphate, and potash. Concern for the environment: promoting environmental protection as a top global priority, as expressed by increased regulations in this field.
Our vision is to harness ICL’s assets and capabilities and to be a leader in the development of innovative and creative solutions that address the essential needs of humanity in an ever changing world, and thereby maximize our shareholders’ value. Following a decade of strong growth and success, in mid-2013 ICL’s Board of Directors approved a new business strategy, “Next Step Forward”, aimed at leading the Company to another decade of growth and success. This goal will be achieved by balancing the Company’s sources of income, increasing, strengthening, and diversifying the sources of its potash and phosphate specialty minerals, broadening its global activities, mainly in fast growing markets in Asia, South America and Africa, leveraging ICL’s advantages and know-how, mainly in the production of sophisticated and unique downstream products; achieving significant efficiencies and savings, and building organizational infrastructure to support our growth processes.
The strategy is intended to expand ICL’s core beyond a product focus and towards a market focus in three sectors: agriculture, food and engineered materials. The strategy calls for the expansion of ICL’s core businesses in these markets, which currently represent about 90% of ICL’s activities, by strengthening its specialty mineral base and end market know-how, pursuing operational excellence, and ramping up its innovation and advocacy capabilities.
The strategy relies on three pillars: efficiency improvements of our core businesses, attractive growth projects and strengthening our enabling platform. In executing this strategy, ICL will benefit from its talented and experience global human resources; its broad, varied product portfolio that addresses the fundamental needs of the world’s growing population; a high moral code of ethics that ensures our proper corporate conduct; a strong sense of environmental responsibility and compliance with sustainability and environmental regulations; access to raw materials and a broad global presence and support infrastructure. These assets provide ICL with clear competitive advantages to pursue its goal of addressing essential needs of humanity, and they are the basis for the Company’s strategy.