||This article appears to be written like an advertisement. (December 2011)|
|Headquarters||Tel Aviv, Israel|
|Key people||Erez Vigodman, CEO
Yang Xingqiang, Chairman
|Revenue||US$ 2,834.5 million (2012)|
|Operating income||$ 281.6 million (2012)|
|Net income||$ 122.6 million (2012)|
Makhteshim Agan Industries Ltd (also known as MA Industries, MAI) is a global manufacturer and distributor of branded off-patent pesticides. Makhteshim-Agan is the world's seventh largest company in the global agrochemical sector with an approximately 5% market share for off-patent proprietary and branded products. In 1997, Makhteshim-Agan became a publicly traded company comprising two veteran companies: Makhteshim (1952) and Agan (1945), both involved in the manufacture of pesticides. In 2011 the company was acquired by ChemChina.
History of products
In 1944, Zvi Zurr and Michael Pikarski established the Agan Cooperative for the development of chemical products for the growing agricultural industry of the fledgling Jewish state. They were later joined by colleagues Israel Tamir and Eliyahu Teomim. In 1954 the cooperative was dismantled and incorporated as a company known as Agan Chemical Manufacturers, for the development and production of herbicides. Zvi 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).
In 1973, Agan relocated once again to larger facilities in Ashdod, where it remains to this day. 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., a major player in the industry that provides food for the world’s population. Since 2000, the company has demonstrated initiative and creativity in its business activities, taking risks that have borne a new era of global expansion.
Acquisition by ChemChina
In October 2011, Makhteshim Agan was acquired by China National Agrochemical Corporation, a subsidiary of China National Chemical Corporation (ChemChina). ChemChina paid US$2.4 billion to conclude the deal – $1.272 billion to public shareholders and $1.128 billion to Koor Industries. Prime Minister Benjamin Netanyahu described the deal as "a big achievement for the economy of Israel." 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 .
The group has several manufacturing facilities worldwide with key facilities located in Ramat Hovav, Beer Sheba, Ashdod and Brazil. In addition, the Group has smaller manufacturing facilities in Colombia, Poland, Spain and Greece. Makhteshim-Agan has the largest generic distribution network in the world, comprising 43 marketing firms throughout the companies' markets in Europe, North America, Latin America, Asia, Pacific, Africa and the Middle East.
Pesticides Makhteshim-Agan’s principal area of activity is in the pesticide sector where about 92% of the company’s revenues are generated. The company’s agrochemical product range includes three basic types: herbicides, insecticides and fungicides. These products improve the quality and quantity of crop yields by providing protection from weeds, insects and fungi. In recent years, the Group has increased its portfolio of products and its activities in stable markets.
Non-Agrochemical Products Makhteshim-Agan has exploited its chemical and industrial know-how to develop additional products such as the antioxidant Lycopene, specialty aroma chemicals and other fine chemicals, which account for 8% of the company’s revenues.
Makhteshim Agan of North America (MANA), located in North Carolina, is the only U.S. producer of endosulfan, an organochlorine pesticide. The company markets the pesticide under the names Thionex 50W and Thionex 3EC. The United States Environmental Protection Agency announced in June 2010 that it would be banning endosulfan and was in discussions with Makhteshim Agan about discontinuing its manufacture. The director of global governmental and industry relations for the company stated "MANA continues to disagree fundamentally with EPA’s conclusions regarding endosulfan.” A global ban on the use and manufacture of endosulfan is being considered under the Stockholm Convention. MANA made its last production run of Endosulfan in 2010, and it should last for two more years. MANA will then stop selling the product, and will not make any more Endosulfan.
- MA Industries website
- Makhteshim website
- Agan website
- Crop Life International
- European Crop Protection Association
- Crop Life America
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