Adama Agricultural Solutions
TypePublic
SZSE: 000553
IndustryAgribusiness
Founded1945 (1945)
HeadquartersAshdod , Israel
Key people
Steve Hawkins (President and CEO)
ProductsCrop protection (herbicides, insecticides, fungicides, plant growth regulators, seed treatments), food additives, dietary supplements, aroma products
RevenueUS$3.997 billion (2019)
US$410 million (2019)
US$208 million (2019)
OwnerChemChina (100%)
Number of employees
6684 (2018)[1]
ParentSyngenta[2]
Websiteadama.com
Adama headquarters in Airport City, Israel

ADAMA Ltd. (Hebrew: אדמה בע"מ‎ ; Chinese: 安道麦), formerly known as Makhteshim-Agan, is a crop protection company.

Overview

Together with its wholly owned subsidiary, Adama Agricultural Solutions Ltd., ADAMA manufacturers and retails herbicides, insecticides and fungicides. The company has research and development (R&D) and manufacturing facilities in various locations worldwide, with two main centers in Israel and China. It is traded on the Shenzhen Stock Exchange[3] and is headquartered in Ashdod, Israel. In 2017, Adama Agricultural Solutions Ltd. was acquired by Hubei Sanonda Co. Ltd., a Chinese agro-chemical producer and partially owned subsidiary of ChemChina.

History

Founders of Makhteshim

Agan was founded in 1949 as a cooperative, while Makhteshim was created in 1952.[4] In 1973, Agan and Makhteshim partnered to distribute their products and 24 years later merged to form Makhteshim Agan Industries Ltd.[5] In October 2011, ChemChina acquired a 60% stake in Makhteshim Agan,[3] delisting from the Tel Aviv Stock Exchange. In 2014, the company changed its name to Adama.[6]

In June 2017, the China Securities Regulatory Commission approved the acquisition of the remaining 40% of shares by ChemChina, making it the sole owner of the company through its Hubei Sandona Co. Ltd. subsidiary.[7] Since August 2017, ADAMA has traded on the Shenzhen Stock Exchange and in January 2018, was included in the Shenzhen-Hong Kong Stock Connect.[8]

Facilities at Neot Hovav

Sales and operations

ADAMA sells its products in approximately 100 countries through 60 subsidiary companies around the world.[9] In 2019, ADAMA reported sales of $3.997 billion, EBITDA of $656 million, a net income of $208 million and operating income of $410 million.[10]

ADAMA has chemical synthesis production facilities in Israel, China and Brazil; formulation facilities in Israel, China,[11] India,[12] Europe, North America and South America; and R&D facilities in Israel,[13] China[14] and India.[12]

References

  1. ↑ "Adama Annual Report 2018 - page 81" (PDF). Adama. Archived from the original (PDF) on 20 September 2019. Retrieved 20 September 2019.
  2. ↑ "ChemChina in Talks With State Funds on Syngenta's Pre-IPO - BNN Bloomberg". Bloomberg News. 2020-07-14. Retrieved 2020-12-04.
  3. 1 2 "ChemChina Signs Makhteshim Deal With Israel's Dankner". Bloomberg. Retrieved 20 September 2019.
  4. ↑ "Makhteshim Agan Industries Overview for Africa" (PDF).
  5. ↑ "Makhteshim Agan acquires Slovak distributor".
  6. ↑ Makteshim-Agan changing name to Adama, Haaretz
  7. ↑ Rabinovitch. Ari. Scheer, Steven (ed.). "Adama says Chinese regulator approves merger with Sanonda". U.S. Retrieved 2018-11-26.
  8. ↑ "Adama trades shares on Shenzhen-Hong Kong linked exchange". Agrow. Retrieved 2018-11-26.
  9. ↑ "Adama Semi-annual Report 2019 - page 8" (PDF). Adama. Retrieved 20 September 2019.
  10. ↑ "ADAMA Delivers Record Fourth Quarter With Over $1 Billion In Sales, Touching $4 Billion Sales for the Year". Bloomberg.com. 2020-03-30. Retrieved 2020-12-04.
  11. ↑ "ADAMA To Begin Operations In China". Business Facilities. 19 December 2017. Retrieved 20 September 2019.
  12. 1 2 BS, Reporter (August 25, 2015). "ADAMA India sets up a new formulations lab in Hyderabad". Business Standard. Retrieved 20 September 2019.
  13. ↑ Habib-Valdhorn, Shiri (9 January 2019). "Adama opens Negev R&D center". Globes. Retrieved 20 September 2019.
  14. ↑ "ADAMA's Global R&D Center Launches Operations in Nanjing". Cision. Retrieved 20 September 2019.
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