ICL Signs Fertilizer Distribution Contract with AMP HOLDINGS GROUP Valued at $170 Million!

ICL GROUP LTD, a leading global specialty mineral company, announced that it has signed a five-year agreement with AMP HOLDINGS GROUP, one of China's leading fertilizer and raw material distribution companies. The agreement, valued at approximately $170 million and valid until 2028, will advance ICL's stated goal of expanding its planting solutions product offering and positioning it for further growth in key end-markets.

The agreement is for specialty water-soluble fertilizers for drip irrigation, designed for cash crops such as apples, watermelons, vegetables, strawberries, ginger and grapes.

China's growing demand for specialty fertilizers reflects the country's increased planting of high-value crops with attractive returns on investment. China's agricultural practices have also changed significantly in recent years due to extreme weather fluctuations, diversification of crop types, and a reduction in the agricultural workforce. As a result, the adoption of drip irrigation has increased significantly, which has driven demand for specialty soluble fertilizers and made China the world's largest fertigation market.

Elad Aharonson, President of ICL Crop Solutions, said: "Our soluble fertilizer products are recognized as leaders in China, an important market for us, and this agreement with AMP HOLDINGS GROUP will further strengthen ICL's position in the high-end market of specialty fertilizers in China. We are pleased that AMP HOLDINGS GROUP continues to choose ICL as a partner. We value our partnership with them and thank China's leading fertilizer distribution company for recognizing our expertise in specialty soluble fertilizers."

"We are very pleased to expand our partnership with ICL Group and work together to bring innovative professional solutions to the Chinese market. Through cooperation, we will help farmers maximize their return on investment and yields through the use of professional irrigation fertilizers."

This cooperation marks another step for ICL in expanding its influence in the Chinese market and also highlights the company's commitment to providing innovative agricultural solutions to meet the changing needs of the regional market.