TEL AVIV, Israel, December 7, 2015 /PRNewswire/ --
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 http://www.adama.com.
Corporate PR Manager
SOURCE ADAMA Agricultural Solutions Ltd.