ICL Makes Significant Expansion in China, with Opening of New Food Specialty Plant

Company hosts top food industry customers for innovation workshop and other events

TEL AVIV, Israel--(BUSINESS WIRE)-- ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced it has opened a new food specialty plant in China, which was designed to help customers easily partner with ICL to create novel and innovative food offerings tailored to Chinese consumers’ palates. The facility will manufacture specialty food solutions in the meat, poultry and seafood segments, such as texturants and marinades, among other offerings, and was built in the thriving Zhangjiagang Free Trade Zone, which is located in the heart of the Greater Shanghai area.

ICL will leverage the new facility to continue serving its established customer base in China, while actively pursuing growth opportunities with new customers. By providing superior and customized taste, texture and stability solutions, the company will be able to offer a premium product to help its customers succeed in the Chinese market. ICL’s commitment to innovation and excellence is part of a strategic initiative designed to empower its customers in China to meet their growth objectives.

“This expansion will give us the opportunity to learn directly from Chinese consumers about what is important to them and allow us to leverage this knowledge to develop new products and solutions for the market in China,” said Rado Sporka, vice president of ICL Food Specialties Commercial Business. “Not only does this new facility bring us one step closer to the end consumer, it is also another step forward in ICL’s long-term commitment to contribute to food security around the world.”

As part of a series of groundbreaking events, ICL hosted more than 30 of its top customers from the Chinese food industry for an overview of its portfolio of premium products and their functional properties. The company also provided details on its robust R&D capabilities and product application support network.

“We were delighted to join ICL Group at the opening of their new food specialty plant and look forward to continuing to partner with them – a relationship that began more than 20 years ago – as they further expand in China,” said San Ping Zhang, SVP at Yurun Group, one of the largest meat producers in China. “Their experience in the premium food ingredients market makes them the obvious choice, as we look to further strengthen the market position and image of our brands as healthy, high-quality, delicious and high-end.”

About ICL

ICL Group 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 12,000 people worldwide, and its 2023 revenues totaled approximately $7.5 billion.

For more information, visit ICL's website at icl-group.com.
To access ICL's interactive CSR report, visit icl-group-sustainability.com.
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About Yurun Group

China Yurun Food Group Co., Ltd. (Yurun Food 1068.HK) is one of the largest meat product manufacturers in China. The company sells products under the brands of Yurun, Furun, Wangrun and Popular Meat Packing and operates two business segments. The Chilled and Frozen Meat segment is engaged in the slaughtering, production and sales of chilled and frozen meat. The Processed Meat Products segment is engaged in the manufacture and distribution of processed meat products. The group is headquartered in Nanjing, Jiangsu Province, China, with multiple production bases for fresh and frozen meat and for deep-processed meat products across China.

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, and war or acts of terror and/or political, economic and military instability in Israel and its region, including the current state of war declared in Israel and any resulting disruptions to our supply and production chains. 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 March 14, 2024, 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.

Forward-looking statements refer only to the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to publicly release any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.

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Investor and Press Contact – Global

Peggy Reilly Tharp

VP, Global Investor Relations

+1-314-983-7665

Peggy.ReillyTharp@icl-group.com

Investor and Press Contact - Israel

Adi Bajayo

ICL Spokesperson

+972-3-6844459

Adi.Bajayo@icl-group.com

Source: ICL Group LTD