World Jewish News
Chinese firm to pay $90 million for Israeli biopesticide maker
13.07.2015, Israel and the World Israel’s Stockton Group, a world leader in the biopesticide business, is being acquired by China’s Hebang Group.
The Chinese firm will pay $90 million for 51% of Stockton’s shares. Hebang’s goal with this investment is to “support Stockton’s growth as a global leader in environmentally friendly biofungicides,” according to the Chinese firm.
Biopesticides are treatments to kill bugs, but in a biologically “sensitive” manner, limiting the use of chemicals. There are various technologies to produce biopesticides, such as using plant extracts to develop organic chemicals that can be applied to plants and crops, along with microbial biopesticides based on using bacteria, fungi and yeast extracted from plants.
However, the field is relatively new, and as of now there are no biopesticides strong enough to handle the entire growth cycle — meaning that, currently, biopesticides are used as an adjunct, not a replacement, for chemical pesticide treatments. However, according to Ziv Tirosh of the Stockton Group, every little bit helps.
Jewish News
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