Sumitomo Chemical to Acquire Part of India’s Excel Crop Care
7 June 2016 In an effort to expand its reach into India, Sumitomo Chemical will purchase 44.98% of the shares of Excel Crop Care Ltd.
“This share acquisition triggers certain requirements of the Securities Laws of India into operation, under which Sumitomo Chemical Group is expected to make an offer for additional public shares that will result in the Group acquiring a maximum of 75% of the shares of Excel Crop Care,” the company said.
India’s 5-year record of strong growth and it’s position as the 9th largest agrochemical market make it an attractive place for manufacturers to do business.
“Given such a consistent market expansion and future growth potentials, Sumitomo Chemical set up its manufacturing and marketing base in India back in 2000 and has thereafter constantly worked to fortify the foundation of its agrochemicals business in the country,” the company said.
Excel Crop Care, the 5th largest in revenue among agrochemicals companies in India, “is another strong step forward in further promoting expanding and enhancing Sumitomo Chemical’s agrochemicals business in India.”
More on Sumitomo’s Acquisition plans for Excel Crop Care.
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