Sumitomo Chemical Acquires Italian Agrochemical Distributor
1 February 2011 Sumitomo Chemical has fully acquired affiliate Isagro Italia S.r.l. (Isagro Italia), as part of Sumitomo Chemical’s strategy to strengthen its agrochemical business in Europe, according to a press release.
Sumitomo previously purchased a 50 percent stake in Isagro Italia in 2002. Since then, Isagro Italia has become one of the major suppliers in the Italian agrochemical market, according to Sumitomo.
“Not only does Italy boast the world’s 8th largest market and Europe’s 3rd largest market for agrochemicals, but it also represents tremendous potential for Sumitomo Chemical to amply leverage our product portfolio in insecticides, fungicides, and herbicides for grapes, fruit trees, vegetables and field crops,” said Kenjiro Fukubayashi, senior managing executive officer of Sumitomo’s agricultural chemicals sector in a prepared statement. “We are extremely positive that Sumitomo Chemical’s stronger presence in Italy will help to expand our business throughout Europe.”
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