MAI sets up Lithuanian subsidiary
ChemChina subsidiary Makhteshim-Agan Industries (MAI) and its 55%-owned subsidiary, Makhteshim-Agan Benelux & Nordic (MABENO), have set up a wholly owned subsidiary in Vilnius, Lithuania. The new entity is called UAB Makhteshim-Agan Benelux & Nordic (UAB MABENO). It will provide MABENO with direct commercial access to the Lithuanian market. "We foresee significant opportunities in the Baltic crop protection market and are excited to position ourselves as a leading player, which will enable us to advance our growth in the market," says UAB MABENO chief executive officer Erika Povilioniene. MAI acquired a 49% stake in Dutch agrochemical distributor MABENO in 2005 (Agrow No 464, p 1).