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ADAMA Agricultural Solutions Ltd.
Company typePrivate
IndustryAgribusiness
Founded1945
HeadquartersTel Aviv Israel
Key people
Chen Lichtenstein, CEO
Yang Xingqiang, Chairman
ProductsFungicides
Herbicides
Insecticides
Nematicides
Seed treatment
Crop Protection
RevenueUS$ 3,076.4 million (2013)
$ 309 million (2013)
$ 127.5 million (2013)
Number of employees
4,500 (2013)
ParentChemChina
Websiteadama.com
Visitors to Makhteshim, 1959
ADAMA's Plant in Brazil

ADAMA Agricultural Solutions Ltd. (formerly Makhteshim Agan Industries Ltd.) is a global manufacturer and distributor of branded off-patent crop protection solutions. In 1997, Makhteshim-Agan became a publicly traded company comprising two veteran companies: Makhteshim (1952) and Agan (1945), both involved in the manufacture of crop protection solutions. In 2011 the company was acquired by ChemChina [1].In 2014 the company re-branded globally 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

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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.

Acquisition by ChemChina

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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 comes 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].


Operations

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The group has several manufacturing facilities worldwide with key facilities located in Neot Hovav, Beer Sheba, Ashdod and Brazil. In addition, the Group has smaller manufacturing facilities in Colombia, Poland, Spain and Greece. ADAMA has the largest generic distribution network in the world, comprising 43 subsidiaries throughout the companies' markets in Europe, North America, Latin America, Asia, Pacific, Africa and the Middle East.

Products

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Crop Protection ADAMA's principal area of activity is in crop protection 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 ADAMA 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.

Global Subsidiaries

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See also

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References

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  1. ^ David, Calev (19 January 2011). "ChemChina Signs Makhteshim Deal With Israel's Dankner". Bloomberg Businessweek.
  2. ^ "Makhteshim renames as Adama Agricultural Solutions". Globes. 2014-01-28.
  3. ^ "ADAMA Crosses $3Bn Sales Mark: Reports Solid Business Momentum for Q4 & FY 2013". PRNewswire. 2014-03-19.
  4. ^ Dun's 100 - Israel's Largest Enterprises 2009 - Company Profile, Dun & Bradstreet, retrieved 2009-10-13
  5. ^ Yeshayahou, Koby (17 October 2011). "ChemChina completes Makhteshim Agan buy". Globes. Retrieved 18 October 2011.
  6. ^ Hazani, Golan (17 October 2011). "ChemChina transfers $2.4B for Makhteshim merger". Ynetnews. Retrieved 18 October 2011.
  7. ^ Ackerman, Gwen (17 October 2011). "Netanyahu Congratulates IDB's Dankner on Makhteshim Deal Close". Bloomberg Businessweek. Retrieved 18 October 2011.
  8. ^ "Makhteshim Agan, ChemChina complete record $2.4b. merger". Jerusalem Post. 17 October 2011. Retrieved 18 October 2011.
  9. ^ Makhteshim Agan To Re-Brand Global Business As "ADAMA", January 28, 2014
  10. ^ Zimmerman, Cindy (November 7, 2014). "ADAMA Wins Agrow Award for Best Marketing Campaign". AgWired.
  11. ^ "ADAMA buys Chinese cos from ChemChina for $623m". Globes. 2014-10-02.

Category:Manufacturing companies of Israel Category:Chemical companies of Israel Category:Multinational companies Category:Agriculture companies Category:Tel Aviv District Category:1945 establishments

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