Adama Agricultural Solutions Ltd. (TASE: ADAMA), which produces agricultural pesticides, is one step closer to being merged into Chinese company Sanonda, listed on the Shenzhen Stock Exchange…Full Article: Globes Sept 2016
- Adama Agricultural Solutions expects the merger with ChemChina to be completed by the end of June 2017.
- As of July 2016, ChemChina had a 60% stake in Adama Agricultural Solutions, but planned to buy out the remaining 40% share. After the merger is completed, the headquarters of Adama would remain in Israel and would also retain its brand names.
- Founded in 2004 and headquartered in Beijing, ChemChina is China’s largest generic agricultural-chemical company. The company is the largest non-patented pesticide manufacturer of herbicides, insecticides, bactericides, plant growth regulators, more than 120 kinds of pesticides and over 800 preparations. ChemChina also manufactures animal nutrition products, rubber, and chemical fertilizers.
- Founded in 1958 and headquartered in Jingzhou, Hubei Province, Hubei Sanonda (SHE:200553) is an agrochemical company whose product line includes pesticides (e.g. glyphosate, triazophos, etc.) and other chemicals. The company is a subsidiary of China National Chemical Corporation, aka ChemChina. In August 2015, Sanonda suspended trading its shares on the Shenzhen Stock Exchange once the Adama Agricultural Solutions takeover was announced.