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UPL to invest $30 million to enlarge factory in Brazil
Sep. 25, 2014
UPL Limited
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Indian company United Phophorus Limited (UPL) plans to invest $30 million to increase the production capacity of its factory, located in Ituverava, São Paulo, Brazil. The company, which is specialized on generic agrochemicals or "post-patent", also projects to build a research center in the city of Campinas.
The goal of UPL is to reach a revenue of US$ 1 billion in Brazil by 2020. The target is highly "aggressive", considering that the company only gets a quarter of this total (US$ 243 million) in the country - a slice of 15% of the global total.
With a focus on crops like corn and soybeans, UPL established in Brazil ten years ago, when it imported agrochemicals from its headquarters. But only three years ago in 2011, the company started local manufacturing by building facility and acquiring the control of a Brazilian subsidiary of German group DVA.
Source: AgroNews
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