Israel Chemicals said on Tuesday it was increasing its bromine compounds capacity after entering into several agreements with customers in Asia.
The company said it will invest about $50 million at its plant near the Dead Sea, where it has exclusive rights in Israel to extract minerals. It anticipates the expansion will generate additional revenues of $110 million a year starting in 2021.
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The expansion will increase production capacity of TBBA (tetrabromobisphenol A), a bromine compound used primarily in the manufacturing of printed circuit boards for the electronics industry, by up to 25,000 metric tons annually, it said.
The new agreements in Asia follow a decrease in bromine production in China, said Israel Chemicals, the world's largest producer of bromine and bromine-based products.
