Makhteshim Agan Enters Into Collaboration Agreement With NRGENE, an Israeli Developer of Genetic Tools for Seed Breeders

TEL AVIV, Israel, February 21, 2012 /PRNewswire/ --

Cooperation Underscores MAI's Commitment to Advance Novel Technologies in Agriculture

Transaction Boosts NRGENE's R&D Efforts through Commercial Partnership

The Makhteshim Agan Group ("MAI") the world leader in branded off-patent crop protection solutions and NRGENE, a leading developer of cutting edge computational solutions for the crop breeding industry, today announced a collaboration agreement.

According to the agreement, MAI will become a strategic investor in NRGENE, an Israeli developer of software-based genetic tools, and the companies will collaborate on technology development project. The collaboration agreement is in-line with the establishment of MAI's Novel Agricultural Technologies Division that leverages on deep expertise and understanding of agricultural needs and trends. Financial terms of the agreement were not disclosed.

NRGENE's unique tools use cutting-edge genomic analysis to identify genetic markers for complex traits that are controlled by multiple genes within the breeding populations of various crops. The technology helps breeders by increasing the success probability rates enhancing the breeding process and shortening the time to market for elite varieties of crop plants.

Commenting on the announcement, Dr. Yoav Zeif, MAI's SVP Global Products and Marketing, said: "NRGENE's exciting technology and creative team of professionals will support our focus to offer new solutions in the field of seeds and genomics.  By investing in - and cooperating with - NRGENE, we will help bring breeders tools that can boost their crop yields. Combining MAI's understanding of farmers' needs with innovative and unique technologies will enable us to expand our offering to growers around the world."

Mr. David Lieber, NRGENE's Chairman, said, "We are excited about our partnership with MAI as they are a company with a worldwide footprint and a proven track record of serving the agricultural industry." Dr. Gil Ronen, NRGENE's Founder and CEO, added, "As as a technology company, we are very excited about the opportunity this cooperation creates for us to see our tools at work with actual crops and real projects."  

About Makhteshim Agan

Makhteshim Agan Industries Ltd is a leading manufacturer and distributor worldwide of crop-protection solutions and the largest off-patent player in the sector. The Company supplies efficient solutions to farmers that assist them in combating disease and increasing yields. In 2010 the Company's sales revenues were over USD 2.37 billion, and it is ranked number 7 in the world agro-chemicals sector. The Company is characterized by its know-how, high-level technological-chemical abilities, expertise in product registration, and observance of strict standards of environmental protection, stringent quality control and global marketing and distribution channels. For more information visit us at http://www.ma-industries.com

About NRGENE

NRGENE (Energin.R technologies 2009 Ltd) is a leading developer of cutting-edge computational solutions for the crop breeding industry. NRGENE's technology platform, GenoMagic™, is based on proprietary algorithms that analyze plant genomic and phenotypic information to reveal the genetic makeup controlling agriculturally-important complex traits. NRGENE's MAESTRO-DB™ data base system integrates detailed information about plant DNA and field performance to deliver novel molecular diagnostic tools used to enhance the breeding of elite varieties. NRGENE is a privately-owned company located in Ness-Ziona, Israel. For additional information, please visit NRGENE's website at http://www.NRGENE.com  

Contact:

Rony Patishi-Chillim
SVP, Global Corporate Communications
Email: [email protected]
Phone: +972-73-232-1131

SOURCE Makhteshim Agan Group