MAI acquires Polish agchem producer and Serbian distributor

Date:12-24-2008

srael-based Makhteshim Agan Industries (MAI) has signed an agreement to acquire 90% of Polish agchem producer Rokita Agro from Germany-based PCC. MAI will also buy agchem distributor Magan Yu, located in Serbia. The acquisitions, both due to be completed in early 2009, will cost MAI a combined US $20 million. 

Rokita, whose main product is 2,4-D herbicide, registers sales of $50 million per year. Magan Yu has sales of $15 million per year, according to MAI.