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 Mar. 12, 2013 Source: Makhteshim Agan news release To view complete report, click here. The Makhteshim Agan Group ("MAI" or the "Company"), the world leader in branded off-patent crop protection solutions, today reported financial results for the fourth quarter and fiscal year ended December 31, 2012. Commenting on the results, Mr. Yang Xingqiang, MAI's Chairman of the Board, said, "2012 was another successful year for the Company with continued growth in all regions, and improvement in all our financial indicators, including EBITDA and operating profit. During the year, the Company progressed in implementing its strategic initiatives, including the integration of MAI's and ChemChina's operations, expansion of the Company's global marketing activities and the launch of new, differentiated products." "We are pleased with the business progress made so far. I am confident that the continued focus on enhancing MAI's operational and commercial capabilities will favorably position the Company to maintain its leading position in the crop protection market and lead to continued growth and profitability", concluded Xingqiang. Mr. Erez Vigodman, President and CEO of Makhteshim Agan, commented: "I am proud to report that 2012 was another year of strong performance across a range of financial and business parameters. This was a year with a host of challenges, including increases in raw material prices, exchange rate fluctuations, and challenging weather conditions in key markets, we achieved impressive financial results. "We demonstrated significant growth in all of the geographical regions in which we operate, specifically in emerging markets while strengthening our infrastructure and capabilities in these markets. At the same time, we continued to focus on implementing our strategic and operational change program. To support this effort, we continued to launch differentiated, value adding, effective solutions to support and cement our market position, as we seek to simplify agriculture everywhere, whilst continuously improving our capabilities in areas such as manufacturing, supply chain, registration, product development, and product portfolio. "As part of our strategic initiatives we pursued intensive activities designed to strengthen our competitive position worldwide. Our activities are targeted at creating an infrastructure for continuous expansion and profitable growth which includes strengthening our abilities in areas such as: R&D, development of differentiated and unique products, advanced IT systems, advanced marketing capabilities, and innovation culture. At the same time we are realizing the potential of our merger with ChemChina. We made steady progress in advancing our goal of creating an operational and commercial infrastructure in China that will enable us to ramp up our presence in the Asia Pacific region, to tap the growth potential in the growing Chinese market and support our global activities. We are confident that our activities will complement and significantly enhance MAI's global leadership position and will enable us to present a unique and differentiated business model in the crop protection industry," concluded Vigodman. Tweet |
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