August 11, 2017

Mexichem acquire a majority stake in Netafim

Dear Valued Customer,

 

Netafim is excited to announce the signing by Mexichem, to acquire 80% stake in Netafim. The deal will need to be approved by Mexichem shareholders and by the regulatory authorities.


Mexichem is a global leader in plastic piping, one of the most cost-efficient PVC producers and one of the world’s largest chemical and petrochemical companies.

 

The purchase price reflects an estimated company enterprise value of US$1.895 billion. The value placed on Netafim is a clear demonstration of our brand strength, the strong foundations of the company and the growth potential. Netafim attracted more than 30 interested parties during this process which is another indication to our leading position in the Ag market.

 

Kibbutz Hatzerim will continue to hold the remaining stake in our company. This decision acknowledges the importance of Israel to Netafim’s past and future, and most important, it assures our clients that the founders of the company from 50 years ago will continue to play an important role in the future of the company for many years to come.

 

Mexichem have committed to keep Netafim’s core activities in Israel, including our headquarters, as well as maintaining the R&D and production activities in Israel.

 

Our activities with you - our valued customers, will be business as usual. We have been one of the most stable suppliers in the irrigation industry in Australia and New Zealand in the past 25 years, and we shall continue to do so for many years to come. We look forward to an exciting future together and thank you for your continued support.

 

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