Hyderabad, December 8:
Israeli crop protection solutions firm Adama will invest $50 million India in the next 3-5 years on expanding its research and development activity in Hyderabad and its manufacturing facility in Gujarat.
The company invested a similar amount in the country in setting up its presence.
Addressing a press conference here on Monday, Adama Agricultural Solutions President and Chief Executive Officer Chen Liechtenstein said that India was a strategic base for the firm after Israel and China.
The Indian market contributes about five per cent to the overall revenues of $3 billion.
Meanwhile, the company has changed the name of its Indian arm Makhteshim-Agan India to Adama, which means ‘earth’ in Hebrew.
It appointed Ilan Levanon as the President and Chief Executive Officer of Adama India. He will take charge in January.
His predecessor Goldshmidt will begin his new role as Vice-President of India, West Asia and Africa. He, however, will continue to be the Chairman of Adama India.
The company has 4,500 employees, with a repository of 120 active ingredients.
It is the seventh largest agrichemical firm in the world and the third largest biggest one in the Indian market.
Source: http://www.thehindubusinessline.com/todays-paper/tp-agri-biz-and-commodity/israeli-crop-protection-solutions-firm-adama-to-invest-50-m-here/article6674164.ece
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