Type Subsidiary Owner ChemChina (100%) Headquarters Tel Aviv, Israel Revenue 3.076 billion USD (2013) Net income 127.5 million USD (2013) Parent organization ChemChina | Industry Agribusiness Website adama.com Number of employees 4,500 Founded 1945 | |
Key people Chen Lichtenstein (CEO)
Yang Xingqiang (Chairman) Products Fungicides, herbicides, insecticides, nematicides, seed treatment, crop protection Profiles | ||
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. In 2014 the company re-branded as ADAMA Agricultural Solutions Ltd.
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For the year ended 31 December 2013, the company reported revenues of US$3.08 billion.
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). 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.
In January 2014, Makhteshim Agan re-branded its global business As ADAMA, the name coming from the Hebrew word for "earth" or "soil". The company has announced its intention to acquire several Chinese business, to establish a foothold in the Chinese market.
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.