Israel Chemicals, the fertilizer and specialty chemicals maker has entered into an agreement to acquire Thermphos International BV. Thermphos is located in Germany and the purchase would include its phosphorus pentasulfide business assets and its operations. There was no discussion as to the details of the purchase.

P2S5 is a special ingredient that is utilized in the manufacture of technical materials such as lubrication oil additives, pesticides and other chemicals for industries like mining. The chemical is only manufactured for a limited number of plants in the world. ICL is one of the leading manufacturers of the chemical in North America.

According to Charles Weidhas, CEO of ICL performance products, "This acquisition complements ICL's global presence in phosphorus-based specialty ingredients. It is the next step in the global expansion strategy that we have been following for the past decade."

The shares of stock of ICL opened at US$4,844 with a day high of US$4,855.