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Regions :: Middle East
Restructuring Boosts Makhteshim Agan's Results; Acquisition by ChemChina to Be Completed Soon
5:50 AM MDT | August 8, 2011 | Ian Young
Makhteshim Agan Industries (MAI; Tel Aviv) reported a more than tripling in second-quarter net profits compared with the same period last year, to $45 million on sales up 20%, to $723 million. Operating profits almost doubled year on year, to $87 million. The strong improvement in sales and earnings is the result of a restructuring program that MAI launched 18 months ago, the company says. "Our top and bottom line results in the second quarter are clear reflection of the progress we have made with our organization-wide streamlining initiative," says...
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