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[1] 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.
Agan was founded in 1949 as a cooperative, while Makhteshim was created in 1952.[2] In 1973, Agan and Makhteshim partnered to distribute their products and 24 years later merged to form Makhteshim Agan Industries Ltd.[3] In October 2011, ChemChina acquired a 60% stake in Makhteshim Agan,[1] delisting from the Tel Aviv Stock Exchange. In 2014, the company changed its name to Adama.[4]
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.[5] Since August 2017, ADAMA has traded on the Shenzhen Stock Exchange and in January 2018, was included in the Shenzhen-Hong Kong Stock Connect.[6]
ADAMA sells its products in approximately 100 countries through 60 subsidiary companies around the world.[7] 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.[8]
ADAMA has chemical synthesis production facilities in Israel, China and Brazil; formulation facilities in Israel, China,[9]India,[10]Europe, North America and South America; and R&D facilities in Israel,[11] China[12] and India.[10]
