Israel Chemicals Files $300 Million Lawsuit Against IBM For Project Failure
EY, IBM to Launch Advanced Security Operations Centres in India (photo for representation)
Israel Chemicals company (ICL) filed a $300 million lawsuit on Monday in an Israeli court against US-based technology giant IBM for a failed project. ICL, a manufacturing company headquartered in the coastal city of Tel Aviv, produces fertilisers including potash, phosphate, magnesium and bromine, Xinhua news agency 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. ICL claimed that it subsequently adopted the project recommended by IBM and defined it as a strategic one. "ICL hired IBM 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," ICL 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.