Israel Chemicals to close magnesium plant in restructuring, reducing workforce by 10%

By James Sean Dickson
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 ICL’s workforce.

Recently, the magnesium plant has only been kept open as a cheap supply chain link for ICL’s bromine...

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