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Makhteshim Agan's Q2 revenue hits $100M
Chemicals' producer note record-breaking second quarter; note organic expansion if all major fields
Top Israeli chemicals' producer Makhteshim Agan Industries (MAI) has reported $100 million in operational revenue for the second quarter of 2012 – a new record for the company.
MAI's Q2 performance marks a 16% increase in operational revenue. Profits came to $42 million.
Big Business
Mishel Udi, Calcalist
Manufacturing plants to be established by Israel Chemicals Ltd. and India's Zuari Industries. Total production capacity: 32,000 tons
The company's sales came to $783 million, compared to $723 million in Q2-2011, with the Latin America market experiencing the biggest growth – 19.8% or $137 million.
"We have seen an organic growth in all of our activities," CEO Erez Vigodman told Yedioth Ahronoth, "and we've seen record results."
Vigodman added that Makhteshim Agan was continuing to pursue its ventures in China – its main market. "Several of the ventures we are pursuing will allow us to maintain our competitive edge and continue our expansion."
MAI is currently undergoing several reviews ahead of a possible IPO in the New York Stock Exchange, or the Hong Kong Stock Exchange. Makhteshim Agan employs 4,500 people worldwide, 1,800 of them in Israel.
