Makhteshim Agan Responds to Decline in the Company's Stock Price

TEL-AVIV, Israel, May 24, 2011 /PRNewswire-FirstCall/ -- The Makhteshim Agan Group (TASE: MAIN), the world leader in branded off-patent crop protection solutions, responds to the decline in the stock price in trading on the stock exchange this morning.

In response to the decline in the Company's stock price in trading this morning, and pursuant to the reports concerning the ChemChina transaction (the "Transaction"), and to the interim ruling of the court concerning the petition for approval of a class action in respect of the Transaction (the "Ruling"), the Company reports that it is not aware of any material developments as it relates to the ChemChina transaction and that it is actively advancing the Transaction in order to complete it.

In parallel, Koor clarified that as of the time of this report Koor is vigorously continuing to proceed with the ChemChina Transaction in order to complete it. At the same time, Koor intends to submit a request for an appeal on the Ruling to the High Court.

About Makhteshim Agan

Makhteshim Agan Industries, Ltd. (TASE: MAIN), http://www.ma-industries.com, 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 knowhow, high-level technological-chemical abilities, expertise in product registration, the observance of strict standards of environmental protection, stringent quality control and global marketing and distribution channels. The Company is well positioned to deliver effective and reliable solutions to farmers globally.

    Contact:
    Rony Patishi-Chillim
    Head of Global Corporate Communications
    Email: [email protected]
    Tel: +972-73-2321119

SOURCE Makhteshim Agan Industries Ltd

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED