Business Standard

Israel Chemicals files $300 mn lawsuit against IBM for project failure

IANS  |  Jerusalem 

Chemicals company (ICL) filed a $300 million lawsuit on Monday in an against US-based giant for a failed project.

ICL, a manufacturing company headquartered in the coastal city of Tel Aviv, produces fertilisers including potash, phosphate, magnesium and bromine, reported.

According to ICL's claim, the company decided in 2012 to create a harmonious information platform to process mass data for its constant acquisition of companies and mergers.

claimed that it subsequently adopted the project recommended by and defined it as a strategic one.

"hired services to lead the entire project... but each stage of the project was carried out in a failed manner," the lawsuit said.

"IBM's failures have taken various forms, including poor work, lack of knowledge, experience, resources and skilled personnel," claimed.

According to ICL, it invested nearly $300 million in the project, of which more than $100 million were paid to IBM.

In response, IBM described the allegations as "groundless," saying it will defend itself "decisively" in court.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 04 2018. 05:36 IST