Israel's MA Industries is to buy U.S. firm Albaugh for about $1 billion, in a move which it said would boost its position in the Americas and cement its position as the world's biggest maker of generic crop protection chemicals.
MA, also known as Makhteshim Agan[MAIXY 5.86 --- UNCH (0) ], said on Sunday it signed a letter of intent to pay $340 million in cash, $455 million in seven-year promissory notes and 59 million of its own shares, equivalent to a 12 percent stake and worth $211 million. MA, which has a market value of $1.64 billion, said it will assume up to $280 million in Albaugh debt.
Generic crop protection chemicals are the soft words for herbicides.
I assume the reason he opened the St. Joe plant instead of importing product from a plant in Argentina was cost of freight or otherwords logistics. The Chinese were imossible to compete with due to the fact that RoundUp and the generic shot up in price a few years ago and Albaugh and the Chinese both got into the generic game at the expense of Monsanto. Then this past year the Chinese had way over expanded and "dumped" the generic version forcing Albaugh to shut down. He asked for help from our govt. and his competitor, Monsanto, and they both declined. And to answer your question, there are good generic products on the market other than Chinese. The Chinese crap probably is OK, if you use it above rate but their quality control isn't any better than the lead in their paint or formaldahyde in their milk!
Let's not forget their fantastic drywall that turns every metal object in the house black and ate threw metal wiring. It is toxic and homebuilders in the South that were using it in all of their new homes found out the hard way that saving a few bucks buying cheap product from China was NOT the way to go.
All content owned by CycloneFanatic.com - All rights reserved 2005-09. By viewing this website you agree to the Terms of Service, Site Rules and Legal Disclaimer. The words, views, images and opinions expressed or provided by users do not reflect the opinions or views of CycloneFanatic.com or Iowa State University. The names, words, symbols, and graphics representing Iowa State University are trademarks and copyrights of the University protected by the trademark and copyright laws of the United States of America and other countries and are used on this web site under license from the University. Original site design, premise & construction by Jeremy Lind.