Makhteshim Agan Posts a Third-Quarter Net Loss; Chairman Steps Down

Makhteshim Agan Industries (Tel Aviv) posted a $56-million net loss for the third quarter of 2010, compared with a net loss of $17.5 million in the same period of 2009, on sales up 22%, to $533 million. Ebitda increased 17%, to $23.5 million. The net loss includes $33.5 million of one-off charges related mainly to a previously announced restructuring of the company's operations in Brazil. Higher sales were achieved despite price pressure in agchem markets and increased competition, Makhteshim Agan says. Revenue growth was strong in emerging markets and Europe...

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