ADAMA Agricultural Solutions

ADAMA Agricultural Solutions Ltd.
Private
Industry Agribusiness
Founded 1945 (1945)
Headquarters Tel Aviv Israel
Key people
Chen Lichtenstein, CEO
Yang Xingqiang, Chairman
Products Fungicides, herbicides, insecticides, nematicides, seed treatment, crop protection
Revenue US$ 3,076.4 million (2013)
$ 309 million (2013)
$ 127.5 million (2013)
Number of employees
4,500 (2013)
Parent ChemChina
Website adama.com
Visitors to Makhteshim, 1959
Adama's headquarters in Airport City, Israel

ADAMA Agricultural Solutions Ltd. (formerly Makhteshim Agan Industries Ltd.) is an Israeli manufacturer and distributor of branded off-patent crop protection products including herbicides, insecticides and fungicides. In 1997, Makhteshim-Agan became a publicly traded company comprising two companies: Makhteshim (1952) and Agan (1945). In 2011 the company was acquired by ChemChina.[1] In 2014 the company re-branded as ADAMA Agricultural Solutions Ltd.[2]

For the year ended 31 December 2013, the company reported revenues of US$3.08 billion.[3][4]

History

In 1944, Zvi Zurr and Michael Pikarski established the Agan Cooperative for the development of chemical products. They were later joined by Israel Tamir and Eliyahu Teomim. In 1954 the cooperative was dismantled and incorporated as Agan Chemical Manufacturers for the development and production of herbicides. Zurr left Agan and relocated to the Negev where, in 1952, Makhteshim Chemical Works, producer and distributor of insecticides and fungicides, was established with funding from the Nir Company of the Histadrut (Labor Federation).

Facilities at Neot Hovav

In 1973, Agan relocated once again to larger facilities in Ashdod. In the same year, Agan and Makhteshim established a partnership for worldwide distribution of their products. In 1997, the two companies merged to form Makhteshim Agan Industries Ltd..

In October 2011, ADAMA was acquired by China National Agrochemical Corporation, a subsidiary of China National Chemical Corporation (ChemChina).[5] ChemChina paid US$2.4 billion to conclude the deal – $1.272 billion to public shareholders and $1.128 billion to Koor Industries.[6] Prime Minister Benjamin Netanyahu described the deal as "a big achievement for the economy of Israel."[7] After the deal, ChemChina owns 60% of the company, with Koor retaining the remaining 40%, and as a result the company's shares have been delisted from the Tel Aviv Stock Exchange.[8]

In January 2014, Makhteshim Agan re-branded its global business As ADAMA, the name coming from the Hebrew word for "earth" or "soil".[9][10] The company has announced its intention to acquire several Chinese business, to establish a foothold in the Chinese market.[11]

The group has manufacturing facilities worldwide with key facilities in Neot Hovav, Beer Sheba, Ashdod and Brazil. In addition, the group has smaller plants in Colombia, Poland, Spain and Greece.

Products

92% of the company's revenues come from production of herbicides, insecticides and fungicides. In addition, ADAMA produces the antioxidant lycopene, specialty aroma chemicals and other chemicals, which account for 8% of the company’s revenues.

See also

References

External links

This article is issued from Wikipedia - version of the Tuesday, January 19, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.