6-K 1 dp94047_6k-align.htm FORM 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of August, 2018

__________________

 

Commission File Number: 001-13742

 

ISRAEL CHEMICALS LTD.

(Exact name of registrant as specified in its charter)

 

Israel Chemicals Ltd.

Millennium Tower

23 Aranha Street

P.O. Box 20245

Tel Aviv, 61202 Israel

(972-3) 684-4400

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F

X

  Form 40-F  

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

 

Yes     No

X

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

 

Yes     No

X

 

 

 

ISRAEL CHEMICALS LTD.

 

1.Alignment of ICL's Organizational Structure to its Strategy

 

 

 

 

 

Item 1

 

Alignment of ICL's Organizational Structure to its Strategy

 

The Company hereby announces that on July 31, 2018, ICL's Board of Directors approved adjustments to ICL's organizational structure in order to align with its strategy, launched earlier this year.

 

ICL's strategy is based on enhancing market leadership across its three core mineral value chains of Bromine, Potash and Phosphate, as well as realizing the growth potential of Innovative Ag Solutions.

 

In accordance, the Company's operations will be divided into four business divisions: Industrial Products (Bromine); Potash; Phosphate Solutions; and Innovative Ag Solutions.

 

The organizational structure adjustment will enter into effect by the end of August 2018.

 

The Company is presently in the process of reviewing the accounting implications, including the reporting of its operational segments in its financial statements as required in accordance with the applicable accounting standards. In order to provide additional visibility, the Company has prepared an interim presentation of preliminary estimated sales and profit of the business divisions according to the new structure, for Q2 2018 and the comparable period in Q2 2017, reconciled to ICL's consolidated sales and adjusted operating profit. The divisions’ figures breakdown below have not been reviewed by the Company’s independent auditors and are provided solely for the convenience of ICL’s shareholders.

 

  Sales Division profit
  $ millions
  Q2 2018 Q2 2017 Q2 2018 Q2 2017
Potash 346 314 76 61
Phosphate Solutions 540 507 55 37
Industrial Products (Bromine) 331 291 94 76
Innovative Ag Solutions 212 190 23 19
Set-off (including G&A and Other) (58) (48) (60) (65)
Sub-Total 1,371 1,254 188* 128*
Divested businesses - 68 - 25
Total 1,371 1,322 188* 153*
*ICL Adjusted Operating Profit        

 

 

 

 

SIGNATURE

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    Israel Chemicals Ltd.  
      By: /s/ Kobi Altman  
        Name: Kobi Altman  
        Title: Chief Financial Officer  

 

 

    Israel Chemicals Ltd.  
      By: /s/ Lisa Haimovitz  
        Name: Lisa Haimovitz  
        Title: Senior Vice President, Global General Counsel and Corporate Secretary  

 

Date: August 1, 2018