Mar. 24, 2015
UPL and Sinagro Produtos Agropecuarios S.A (Sinagro) has entered into agreement whereby UPL through its step down wholly owned subsidiary will be subscribing to 40% shares in Sinagro group, a Brazilian company in the state of Mato Grosso. The closing of this transaction is subject to necessary approvals. This partnership will open up opportunities to UPL to actively participate in the multifaceted distribution system of products and services in delivering complete crop solutions to Brazilian farmers.
Sinagro based out of Primavera do Leste in the state of Mato Grosso, is one of the leading distributors of farm inputs in the Cerrado region of Brazil and is also in the business of agricultural production and trading of grains. Brazil has the largest Soybean agrochemical market in the world and state of Mato Grosso is the leading Soybean producing state in Brazil.
UPL (formerly United Phosphorus) is global player of crop protection products has customer base in 123 countries. It has subsidiary offices in Argentina, Australia, Bangladesh, Brazil, China, Canada, Denmark, Indonesia, France, Hong Kong, Japan, Korea, Mauritius, Mexico, New Zealand, Russia, Spain, Taiwan, South Africa, USA, UK, Vietnam and Zambia.