Adama Agricultural Solutions
Israeli manufacturing company
From Wikipedia, the free encyclopedia
ADAMA Ltd. (Hebrew: אדמה בע"מ; Chinese: 安道麦), formerly known as Makhteshim-Agan, is a crop protection company.
| |
| Company type | Public |
|---|---|
| SZSE: 000553 | |
| Industry | Agribusiness |
| Founded | 1945 |
| Headquarters | Ashdod, Israel |
Key people | Steve Hawkins (President and CEO) |
| Products | Crop protection (herbicides, insecticides, fungicides, plant growth regulators, seed treatments), food additives, dietary supplements, aroma products |
| Revenue | US$3.997 billion (2019) |
| US$410 million (2019) | |
| US$208 million (2019) | |
| Owner | ChemChina (100%) |
Number of employees | 6684 (2018)[1] |
| Parent | Syngenta Group[2] |
| Website | adama.com |
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
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]
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]