South America helps Israeli agrochem firm climb 42%
INROADS into the booming South American agrochemicals market helped Israeli generic agrochemicals manufacturer Makhteshim to boost net profits by 42% to $43.2 million last year.
Revenues climbed 35% from $740m. Those from South America leaped 137% to $260m – 39% of the companys total.
The company has acquired two businesses in Brazil and one in Argentina over the past 18 months. Analysts say the South American agrochemical market is growing at more than 13% a year compared with about 4% worldwide.
- Financial Times 17/02/98 page 26