Israel Chemicals Harvests the Good of the Earth
Mar 31st, 2008 by Jack Reichert
With the world markets being down in the dumps it’s heartening to see that some are still making it. Israel Chemicals Ltd., which harvests minerals from the Dead Sea to make fertilizers and chemicals, said fourth-quarter profit jumped 82 percent as demand for potash and phosphate fertilizers led prices higher.
Earlier this week we posted about their recent deal with Yam Thetis. It seems that not only natural gas is profitable but “ICL showed very strong results in fertilizers,” Limor Gruber, an analyst at Psagot Investment House Ltd. in Tel Aviv, expalins.
“The surprise was that fertilizer prices were higher than forecast, and the company paid very little tax.”
Let’s hope that green paying off inspires more and more companies to befriend our home.
Source: Bloomberg
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Can’t say I agree with you on this one Jack. These fertilizer companies are raping the Dead Sea… some are making pretty nasty chemicals and byproducts from what they reap –especially when they create flame retardents.
Karin