TEL-AVIV, Israel, May 8, 2011 /PRNewswire/ -- Makhteshim Agan Group (TASE: MAIN), the global leader in off patent crop protection solutions, has announced receipt of all required approval from the Chinese Authorities.
Further to the Immediate Reports dated January 9, 2011, January 20, 2011, March 30, 2011, April 7 2011 and May 5, 2011 concerning the merger agreement dated January 8, 2011 between a subsidiary of the China National Chemical Corporation ("ChemChina"), Koor Industries Ltd and the Company ("the Agreement"), the Company reports as follows:
ChemChina informed the Company on May 6, 2011 that it had also received the approval of the State Administration of Foreign Exchange of China ("SAFE").
This concludes the required approvals from the Chinese authorities for the transaction.
About Makhteshim Agan
Makhteshim Agan Industries, Ltd. (TASE: MAIN) is a world leading manufacturer and distributor of branded off-patent crop protection products. With sales of US$2.38 billion in 2010, MAI ranks seventh in global agrochemical companies, fourth in Europe, with a global share of over 5%. The Company is characterized by its know-how, high-level technological-chemical abilities, expertise in product registration, observance of strict standards of environmental protection, stringent quality control and global marketing and distribution channels. The Company is well positioned to leverage its global scale in sourcing, manufacturing, development and registration to support attractive international growth drivers. To learn more please visit us at: www.ma-industries.com
Contacts
Rony Patishi-Chillim
IR@ma-industries.com
+972-73-2321119
SOURCE Makhteshim Agan Industries, Ltd.
