ICL Consolidates Crop Nutrition Sales and Marketing

Rhea-AI Summary

ICL Group Ltd (NYSE: ICL) has announced a consolidation of its sales and marketing for crop nutrition inputs. This strategic move will streamline efforts for both commodity and specialty fertilizers under a unified regional management structure. The company anticipates that this change will enhance customer service and broaden market reach without impacting financial reporting. Raviv Zoller, President and CEO, emphasized the importance of operational efficiency in leveraging ICL's extensive regional knowledge and R&D capabilities.

Positive

• Consolidation expected to optimize sales and marketing channels.
• Anticipated enhancement in customer service and product adoption.
• Unified management aims to broaden regional sales effectively.

Negative

• None.

TEL AVIV, Israel, June 22, 2020 /PRNewswire/ -- ICL Group Ltd (NYSE: ICL) (TASE: ICL), a leading global specialty minerals and specialty chemicals company, announced today it will consolidate sales and marketing infrastructures for crop nutrition inputs.  Following the consolidation, sales and marketing efforts of commodity and specialty fertilizers will be undertaken by a single commercial organizational unit that will be managed on a regional basis.

The company expects that this change will optimize sales and marketing channels, better address the ongoing needs of ICL's customers, enhance adoption of new products and broaden regional sales across ICL's ag-related operating divisions. This change will not impact ICL's financial reporting.

Raviv Zoller, President and CEO of ICL commented: "The consolidation of our sales and marketing efforts in the agricultural business is being undertaken as ICL continues to evaluate ways to achieve commercial excellence and increase the efficiency of our global operations.  We believe that establishing a single commercial unit facing agricultural end markets will allow us to better leverage ICL's region-specific knowledge, agronomic and R&D capabilities, logistical assets, and customer relationships, as well as to enhance the global operational scale of our crop nutrition business."

Eli Amon, EVP ICL IAS, will lead the consolidated crop nutrition business as well as ICL's Innovative Ag Solutions division.  Mr. Amon has been with ICL for 29 years, serving in several executive sales, marketing and logistics roles. 

About ICL

ICL Group LTD is global specialty minerals and specialty chemicals company operating bromine, potash, and phosphate mineral value chains in a unique, integrated business model. ICL extracts raw materials from well-positioned mineral assets and utilizes technology and industrial know-how to add value for customers in key agricultural and industrial markets worldwide. ICL focuses on strengthening leadership positions in all of its core value chains. It also plans to strengthen and diversify its offerings of innovative agro solutions by leveraging ICL's existing capabilities and agronomic know-how, as well as the Israeli technological ecosystem. ICL's operations are divided into four business divisions: Industrial Products (bromine value chain and complementary business); Potash; Phosphate Solutions (P2O5 Chain); and Innovative Ag Solutions. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2019 revenues totaled approximately $5.3 billion.

For more information, visit the Company's website at www.icl-group.com.
To access ICL's interactive Corporate Social Responsibility report, please click here.
You can also learn more about ICL on Facebook, Linkedin and Instagram

INVESTOR RELATIONS CONTACT                                                                                      
Dudi Musler                                                                                    
Investor Relations Manager                                                          
+972-3-684-4448                                                                             
Dudi.Musler@icl-group.com            

PRESS CONTACT  
Or-li Kasuto Madmon       
Scherf Communications    
+972-52-4447750                      
Orli@scherfcom.com

View original content:http://www.prnewswire.com/news-releases/icl-consolidates-crop-nutrition-sales-and-marketing-301080899.html

SOURCE ICL

FAQ

What is the recent news regarding ICL Group Ltd's sales and marketing?

ICL Group Ltd announced the consolidation of its sales and marketing infrastructures for crop nutrition inputs to optimize operations and enhance customer service.

Who is leading the newly consolidated crop nutrition business at ICL?

Eli Amon, EVP ICL IAS, will lead the consolidated crop nutrition business along with the Innovative Ag Solutions division.

Will the consolidation of sales and marketing affect ICL's financial reporting?

No, the consolidation will not impact ICL's financial reporting.

What benefits does ICL expect from consolidating their sales and marketing efforts?

ICL expects to optimize sales channels, improve customer service, enhance product adoption, and broaden regional sales.