The growth is driven by a combination of solid business growth as well as higher prices claims company
ADAMA Ltd, a world leader in crop protection industry, has recently reported a record-breaking fourth quarter with over $1bn in sales – touching $4bn sales for the year. ADAMA has a world domination with the widest and most diverse portfolios of active ingredients, the state-of-the art R&D, and manufacturing and formulation facilities.
Sharing some details about the latest achievement, Erik Fyrwald, incoming Chairman of ADAMA’s Board of Directors, said, “ADAMA has delivered record sales, year after year, in the face of some major market challenges. I am very excited to welcome the company to the Syngenta Group, and to take on the role as its Chairman. For years I have admired ADAMA and its impressive history of profitable growth. It is one of the leading off-patent crop protection companies in the world, and it will be a key part of the newly formed Syngenta Group. With ADAMA in the fold, Syngenta is well on its way to becoming the world’s largest agricultural technology and service company, serving farmers across the globe.”
Commenting on the growth, Ignacio Dominguez, CEO of ADAMA, said, “Our solid business growth enabled us to deliver yet another record high full-year performance in what a challenging year for the global crop protection market was. Under Chen Lichtenstein’s leadership, our agile teams from around the world focused on execution, while being responsive to the tough market conditions, ensuring our ability to continue our growth momentum. I now look forward to building on this foundation and leading the Company in its next growth phase.”
If we look at the market conditions in the FY19-20, the global crop protection market observed some extreme weather conditions in many regions of the world. Despite the challenging market conditions, ADAMA managed to deliver record sales in the fourth quarter and full year. The company claims that the growth is driven by a combination of solid business growth as well as higher prices and the introduction of new and differentiated products across the world.
