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Shira Horesh (Globes) 21/01/2009
Minrav Holdings Ltd. (TASE: MNRV) has sold its wholly-owned subsidiary, bio-pesticide developer Agrogreen Ltd., for NIS 120 million. Minrav did not disclose the name of the buyer.
Agrogreen, founded in 1997, develops and produces environmentally friendly biological pesticides and microbial products for pest control. The company's products are intended as alternative to chemical pesticides, some of which damage the environment. The company has two commercial products: BioNem, a bio-nematicide for the deduction nematode worm populations and root infestations in the soil that is based on Bacillus firmus; and Shemer, a biofungicide against a wide range of rots that is based on Metschnikowia frucitcola.
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