China’s Yuanda Enterprise Group announced last week that it had bought the Israeli company AutoAgronome Israel Ltd for $20 million in order to expand its business to high-tech agriculture. The Israeli company produces smart irrigation and fertilization systems that are successfully used with 70 different types of crops, including potatoes, in 13 countries including the United Kingdom. “The movement to new technology is huge. Every year, the area of drip irrigation system farming in China increases about 20 percent, which is more than all in Israel and Europe together. It’s a huge market in China,” said Nissim Daniely, the general manager of AutoAgronom in China Daily.
Source: www.breakingisraelnews.com
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