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ICL Reports Higher Sales and Profits Despite Dead Sea Works Strike

2:58 AM MDT | May 16, 2011 | Natasha Alperowicz

ICL (Tel Aviv) reported its second best first quarter results on record, despite the Dead Sea Works'  44-day strike during the quarter, which impacted potash sales. The results are second only to the first quarter 2008, which was an exceptional 'spike' year for the fertilizer industry. ICL's revenues for the first quarter of 2011 totaled $1.53 billion, up 11% on the corresponding quarter in 2010. The growth reflected an increase in selling prices, countered partially by reduced quantities of potash sold due to the strike. Revenues from Europe and North...

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