Japanese company Mitsui Chemicals Agro, Inc. said it has acquired a 10% stake in Belgium-based Belchim Crop Protection NV for an undisclosed sum.
The company’s collaboration and shareholding will reinforce the relationship with Mitsui and drive further success for both companies by accelerating the development of products in the market as well as introducing new products into the market, Belchim said in a statement.
Until now, the two firms have been collaborating on the registration and commercialization of certain Mitsui products in a gradually increasing number of countries in Europe. Belchim Crop Protection has been successfully contributing resources, regulatory know-how and sales expertise. The companies cited lengthy development cycles, increased regulatory demands and costs and market changes for intensifying their cooperation in development, registration, commercialization and sales of agrichemicals.
According to Mr. Dirk Putteman, CEO Belchim Crop Protection NV: “It is a privilege to join forces with a strong R&D partner like Mitsui Chemicals Agro, so we can amplify our existing innovative portfolio and make our company future-proof.”
Mr. Kazunori Tani, president Mitsui Chemicals Agro, Inc. echoes Mr. Putteman’s comments: “Belchim has the regulatory know-how and a strong market access in Europe. With Belchim as a partner, we will enhance our overseas business and strengthen Mitsui’s sales considerably.”