Makhteshim-Agan buys 70% of Biomark
Monday, April 4, 2005, 00:00
Israeli chemical company Makhteshim-Agan Industries signed a memorandum of understanding for the acquisition of 70% in the Hungarian company Biomark Tradinghouse Ltd the company announced in its press release. Biomark has been the distributor of Makhteshim Agan's crop protection chemicals in Hungary since the nineties and is wholly owned by the family of its founder. The acquisition was made in exchange of an undisclosed amount of cash. Makhteshim-Agan received an option to increase its share in Biomark to 100% in the future. The new partnership intends to increase its activity and service in the local Hungarian crop protection market.