Magnesia-based product provides a natural solution for improved citrus quality
ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, has announced the launch of FruitMag, a sustainable and superior solution for post-harvest citrus fruit treatment. This innovative offering is mineral-based and fungicide free, unlike the products currently used by the global citrus fruit industry. By using a food-grade magnesia product, ICL is able to eliminate toxic materials and reduce product losses, while increasing shelf life.
FruitMag was put through rigorous testing, through a collaboration with the Volcani Institute (Agricultural Research Organization ARO), the research arm of the Israeli Ministry of Agriculture. Professor Samir Droby, a senior research scientist leading the Department of Postharvest Science – and an expert in the development and application of alternative methods for the control of postharvest diseases – worked with ICL to validate the performance of FruitMag.
“Very few consumers know the lemons, oranges and grapefruits sitting in their kitchens have been treated with a toxic fungicide,” said Yaniv Kabalek, president of Industrial Products for ICL. “With FruitMag – one of a series of solutions designed by ICL to address sustainability challenges – ICL has made it possible to reduce product loss, with greater efficacy and in a more sustainable manner.”
ICL Group Ltd. is a leading global specialty minerals company, which creates impactful solutions for humanity's sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company's growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,500 people worldwide, and its 2021 revenues totaled approximately $7 billion.
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Forward Looking Statements
This announcement contains statements that constitute forward-looking statements, many of which can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others.
Forward-looking statements appear in this press release and include, but are not limited to, statements regarding the company’s intent, belief or current expectations. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: estimates, forecasts and statements as to management's expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, general economic, market and business conditions, supply chain and logistics disruptions, energy storage and electric vehicle growth, the potential for new COVID-19 variants, global unrest and conflict, governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, changes in environmental, tax and other laws or regulations and the interpretation thereof. As a result of the foregoing, readers should not place undue reliance on the forward-looking statements contained in this press release concerning the timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the “Risk Factors” section of its Annual Report on Form 20-F filed on February 23, 2022, as such risk factors may be updated from time to time in its Current Reports on Form 6-K and other filings ICL makes with the U.S. Securities and Exchange Commission from time to time.
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Investor and Press Contact – Global
Peggy Reilly Tharp
VP, Global Investor Relations
Investor and Press Contact - Israel