Business / Industry Sectors
Israeli farm company to expand operations in India
09/12/2014
ADAMA Agricultural Solutions, a global leader in providing comprehensive crop protection solutions, plans to invest $50 million more in India.

Mr. Chen Lichtenstein

Israel's ADAMA Agricultural Solutions, a global leader in providing comprehensive crop protection solutions, plans to invest $50 million more in India in the next three to four years in distribution network and research and development, a company official said.

 

The company - formerly known as Makhteshim-Agan - with global sales of $3.1 billon, has already invested $50 million since it started operations in India in 2009.

 

ADAMA president and CEO Mr. Chen Lichtenstein Monday unveiled the new brand name and logo, which brought more than 40 brands of the company across the globe under a single name.

 

ADAMA India president and CEO Yossi Goldshmidt and other members of the management were also present.

 

ADAMA has a research and development centre in Hyderabad, which is the only one of its kind outside Israel. He described Israel and India as three key markets.

 

The over 60-year-old company is the seventh largest agro-chemical firm in the world and the No.1 manufacturer and distributor of branded off-patent crop protection products.

 

It is the third largest agro-chemical company in India, with CAGR of 30 percent as against the sector's CAGR of 9-10 percent.

 

India contributes 5 percent of the total global sales of ADAMA and the company plans to increase this to 6 percent.

 

The size of India's agro-chemical market is $2 billion. The share of ADAMA is in single digit. The officials, however, did not give the number.

 

"India as a market has great potential and we foresee tremendous growth in this region in the coming years. To meet food security challenges, Indian farmers need the right solutions to increase their yield," Mr. Lichtenstein said.

 

Source: Daiji World

 

Register your company in our INDEX OF COMPANIES

 

 

Have comments? Write to us | Send to a friend | Print |
Share |
ad
ad
ad
ad
ad
ad