Adama Agricultural Solutions
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Agribusiness |
| Founded | 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 billion (2013) |
| US$309.0 million (2013) | |
| US$127.5 million (2013) | |
| Owner | ChemChina (100%) |
Number of employees | 4.500 (2013) |
| Parent | ChemChina |
| Website | adama.com |
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).
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]
In 2016 ChemChina acquired ADAMA outright from Koor Industries. At the same time, it was planned to sell 100% stake of ADAMA to Sanonda, an associated company of ChemChina.
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.[citation needed]
See also
References
- ^ David, Calev (19 January 2011). "ChemChina Signs Makhteshim Deal With Israel's Dankner". Bloomberg Businessweek.
- ^ "Makhteshim renames as Adama Agricultural Solutions". Globes. 2014-01-28.
- ^ "ADAMA Crosses $3Bn Sales Mark: Reports Solid Business Momentum for Q4 & FY 2013". PRNewswire. 2014-03-19.
- ^ Dun's 100 - Israel's Largest Enterprises 2009 - Company Profile, Dun & Bradstreet, retrieved 2009-10-13
- ^ Yeshayahou, Koby (17 October 2011). "ChemChina completes Makhteshim Agan buy". Globes. Archived from the original on 30 December 2013. Retrieved 18 October 2011.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Hazani, Golan (17 October 2011). "ChemChina transfers $2.4B for Makhteshim merger". Ynetnews. Retrieved 18 October 2011.
- ^ Ackerman, Gwen (17 October 2011). "Netanyahu Congratulates IDB's Dankner on Makhteshim Deal Close". Bloomberg Businessweek. Retrieved 18 October 2011.
- ^ "Makhteshim Agan, ChemChina complete record $2.4b. merger". Jerusalem Post. 17 October 2011. Retrieved 18 October 2011.
- ^ Makhteshim Agan To Re-Brand Global Business As "ADAMA", January 28, 2014
- ^ Zimmerman, Cindy (November 7, 2014). "ADAMA Wins Agrow Award for Best Marketing Campaign". AgWired.
- ^ "ADAMA buys Chinese cos from ChemChina for $623m". Globes. 2014-10-02.