Israel Chemicals to close magnesium plant in restructuring, reducing workforce by 10%
Published: Friday, 29 August 2014
ICL will close its magnesium factory with loss of 550 jobs in 2017 following Sheshinski II committee interim recommendations to introduce a surtax. The company also plans to restructure its bromine plant, and it may move some operations outside Israel.
Israel Chemicals Ltd. (ICL) will cease production at its
Dead Sea magnesium factory in January 2017, resulting in
redundancies for 550 staff representing a 10% reduction
in ICLs workforce.
Recently, the magnesium plant has only been kept open as a
cheap supply chain link for ICLs bromine...