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Best Agro Group Acquired an Agrochemicals Manufacturing Facility from Chemtura Chemicals India
Mar. 28, 2016
Best Crop Science LLP, part of the Best Agro Group, announced today that it has successfully completed the acquisition of an agrochemicals manufacturing facility located in Gajraula (Uttar Pradesh) from Chemtura Chemicals India Private Limited, a subsidiary of Arysta Life Science (USA) owned by Platform Specialty Products Corporation (NYSE: PAH) ("Platform").
As a result of this acquisition, the Best Agro Group has enhanced its manufacturing capabilities. The manufacturing site, located in the Uttar Pradesh State Industrial Development Zone, is spread across 13.56 acres and is capable of formulating high quality insecticides, herbicides and seed enhancement products on 6 production lines in three production blocks.
"The acquisition of this facility at Gajraula is a stepping stone to achieving our strategic vision. By the end of this year, we intend to enhance our technical production capacity by 5,000 TPA, which will support our growing product portfolio" said Mr. Vimal Kumar, Chairman and Managing Director of the Best Agro Group.
The divestiture of this manufacturing facility is part of Platform’s strategic plan for growth in India and global initiatives to integrate and optimize production and supply chain activities following the acquisitions of Arysta Life Science Limited, the Agriphar group, and Chemtura Corporation’s Agricultural Solutions business.
Alvarez & Marsal Corporate Finance, India, acted as the exclusive financial advisor to Platform on the transaction.
Source: Best Agro Group
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