Agrochemicals maker Makhteshim Agan Industries Ltd. (TASE: MAIN) today opened a new formulation and packaging plant in Dahej, which the company calls the hub of India’s chemicals industry. The plant will serve the needs of Makhteshim’s rapidly growing plant protection business in India and other Asian and African markets.
Makhteshim president and CEO Erez Vigodman said, “The launch of our new formulation and packaging plant in Dahej marks an important milestone in the development and evolution of Makhteshim as a whole and especially in our Asia-Pacific, Africa, and Middle East regions. "The plant will enhance our platform in India, which also includes an R&D center, and strengthen our growing activity in this important market. The addition of local formulation and packaging capabilities will simplify our supply chain in India and allow us to be even closer to our customers in this strategic market."
Vigodman added, "This launch joins other measures we have taken in Asia over the last two years and will support our continued profitable growth in Asia as a whole and in India specifically."
A joint Israeli-Indian team began building the plant in October 2010. The plant will meet global quality standards for production and quality control. The plant will focus on fulfilling the needs of Indian farmers specializing in market specific formulations and small packages.
Makhteshim's share price fell 0.3% today to NIS 19, giving a market cap of NIS 8.3 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011