Iofina PLC (IOF)

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Company Description

Iofina PLC is an investment holding company incorporated and domiciled in the United Kingdom on March 15, 2005. The Company along with its subsidiaries is engaged in the production of iodine and iodine derivatives. The Company is also engaged in the exploration and production of iodine with a vertical integration into the specialty chemical iodine derivatives business. The presence of iodine, water, and natural gas has been discovered on its acreages. The Company operates in two segments; Iodine and Iodine Derivatives segment, and Montana segment. The Iodine and Iodine Derivatives segment include the production of raw iodine and the production of iodine derivatives and other non-iodine based chemical derivatives. The Montana segment includes the exploration and production of natural gas, iodine and water for use in various applications. The Company also reports by geographical segment. The activities are related to exploration for, and development of, natural gas and associated iodine in certain areas of the USA and the manufacturing of specialty chemicals in the USA with support provided by the UK office. The Company also provides third party brine stream operators with a turnkey mid-stream fee based solution to extract iodine. The Company's product portfolio includes; Animal Care, Biocides, Catalysts, Disinfectants, Fungicide, Intermediates, Mineral Separators, Odor Control, Preservatives, Soil Fumigants among others. The Company's Wellhead Extraction Technology method allows low cost production metrics and operational efficiencies compared to other large iodine/gas fields in Mobara, Japan. The WET approach employs two different iodine extraction methods, depending on brine chemistry and temperature for optimal efficiency. The IOsorb methods enable the co-production of iodine from brine. As of December 2013, the Company produced 171 metric tonnes (MT) of crystallised iodine. The Company is subject to environmental laws and regulations in connection with all of its