TEL AVIV, ISRAEL, December 7th, 2015
ADAMA Agricultural Solutions Ltd. today announced that it is to
enter into a commercial collaboration with five Chinese crop
protection entities which are part of the ChemChina group, to
progressively become the exclusive domestic sales platform for their
formulated crop protection products. Such products are estimated to
generate sales of approximately $90m in 2015.
This move will allow Adama to accelerate its entry into the Chinese
market, by providing it with access to hundreds of product
registrations. Under the collaboration, Adama will meaningfully expand
its commercial network and customer reach by having more than 170
sales, marketing and registration employees, who have until now been
employed by the five entities, join Adama's sales force.
In the beginning of 2016, Adama will launch its Chinese domestic
market branded sales platform, which will be strengthened in an
incremental manner by the exclusive distribution business. This will
allow Adama to capitalize on an established commercial infrastructure
to bring its wide portfolio of advanced crop protection solutions to
the vast Chinese agricultural market, the third largest in the world
and one of the fastest growing.
The five entities – Hubei Sanonda, Jiangsu Anpon, Shandong Dacheng,
Anhui Chemical Group and Jiamusi Heilong Agrochemical – are controlled
by the China National Agrochemical Corporation (CNAC), a strategic
business division of ChemChina and the controlling shareholder of Adama.
Separately, Adama declared a $100m dividend in the context of its
contemplated reverse merger transaction with Sanonda.
ADAMA Agricultural Solutions Ltd. is the leading off-patent crop
protection solutions company in the world. The Company’s comprehensive
range of high-quality, differentiated and effective herbicides,
insecticides and fungicides, help farmers worldwide to increase yields
by preventing or controlling weeds, insects and disease that harm
their crops. With one of the world’s most extensive and diversified
off-patent product portfolios, Adama sells its products in more than
120 countries, with revenues of over $3.2 billion in 2014. Adama’s
purpose is “Creating Simplicity in Agriculture” – striving to provide
farmers accessible, easy-to-use solutions that simplify their lives
and improve their crop yields. For more information, visit us at www.adama.com.
Corporate PR Manager