Secret Site Map
Saturday, November 22, 2014

Home News Chinese Company In Talks To Buy Makhteshim Agan

Chinese Company In Talks To Buy Makhteshim Agan

Business

Koor Industries is in negotiations to sell agrochemicals maker Makhteshim Agan Industries — which includes U.S. subsidiary Control Solutions, Inc. — to China National Chemical Corporation (ChemChina).

PCT Magazine | October 12, 2010

Koor Industries is in negotiations to sell agrochemicals maker Makhteshim Agan Industries — which includes U.S. subsidiary Control Solutions, Inc. — to China National Chemical Corporation (ChemChina).

In a statement released yesterday, Koor Industries said it reached an “initial understanding” with China National Chemical Corp. to take the company private at a deal that would value the world’s biggest maker of generic crop chemicals at $2.72 billion.

Mark Boyd, president of Control Solutions, Inc., told PCT, “As most people in our industry know, we live in a global economy. Today, most of the Active Ingredients that are used to control insects in the U.S. market are produced in China, India and Israel.”

Boyd added that as Makhteshim (MAI) looks to the future, “the pending cooperation with ChemChina will help to ensure a low cost position for MAI and better market access for ChemChina. Therefore, subject to the successful completion of the transaction, MAI's management will lead the combined company and will be responsible for extracting its full growth potential. We will take the time to build a unique business model for the combined entity, taking the best capabilities from each organization and continuing to expand and improve our global infrastructure over time.”

As a result of this announcement Makhteshim Agan’s stock surged the most on record, jumping 27 percent.

PCT will provide updates to this story as they become available.
 

Top news

Bed Bugs Can Transmit Parasite that Causes Chagas Disease

A new study from Penn Medicine researchers in the Center for Clinical Epidemiology and Biostatistics demonstrated that bed bugs, like the triatomines, can transmit Trypanosoma cruzi, the parasite that causes Chagas disease.

Allergy Technologies Offers Free Liner Trial Program to PMPs

The program enables pest management professionals (PMPs) to evaluate ActiveGuard Mattress Liners in real world applications.

PCO Caldwell in Country Gospel Music Video

Ronnie Caldwell, president of Innovative Pest Management, Denver, N.C., is one of the stars of the new Bruce Hedrick video 'A Better Man.'

Mosquito-Borne Chikungunya Detected in Mexico

The country has detected its first domestic case of the painful mosquito-borne viral disease chikungunya in the southwest of the country, the state government of Chiapas said on Saturday.

Temp-Air Announces Thermal Remediation Bed Bug National Conference

The company’s 1st Bi-Annual Thermal Remediation Bed Bug National Conference will be held March 8-10, 2015 in Grapevine, Texas.

x