MANA Crop Protection’s parent company Makhteshim Agan Group (MAI) announced a merger with China National Agrochemical Corporation. This merger is unique because it is considered the largest transaction ever between a Chinese and Israeli company.
MAI is selling 60% of its publically owned shares to the China National Agrochemical, which is owned by China National Chemical Corporation (ChemChina). ChemChina is China’s largest chemical producer. The company is also on the list of the 500 top companies in the world.
MAI’s remaining 40% shares stay with its current stockholder, the Israeli company Koor Industries, which is part of the IDB Group.
Rob Williams, CEO of MANA Crop Protection, spoke optimistically about the merger. “This merger is key to expanding our global manufacturing as well as research and development capabilities — providing the operational resources necessary to introduce exciting new product lines and solutions to the marketplace,” he stated.
Williams will continue to lead MANA’s U.S. operations from Raleigh, N.C. MAI’s current management remains the same and the global headquarters will remain in Tel Aviv, Israel.
MAI reports that the company will seek to capitalize on new resources from ChemChina to expand global markets.
In a released statement, Erez Vigodman, CEO of MAI said, “China National Agrochemical Corporation will support our efforts to address growers’ needs and to simplify farming around the globe in a number of ways: by capitalizing on the great human capital we see in both companies, by leveraging our combined global resources, operational and logistical capabilities, and by taking full advantage of our shared passion for innovation and responsiveness to our customers. We will utilize our deep knowledge of agro markets, producing an expanded range of high-quality crop protection solutions for farmers as they confront the formidable challenge of developing more food with scarcer resources. As such, our merger is a very positive development for our two companies, for our customers and for growers around the world.”
For more information, contact MANA Crop Protection, 866/406-6262, or visit www.manainc.com.