AgroPages-Mitsui Chemicals Agro acquired further 1.5% shares of Sotus International-Agricultural news

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Japan Pesticide Market Review (2016 edition)

Mitsui Chemicals Agro, Inc. announced that MCAG acquired additional shares of Sotus International Co., Ltd. (SOTUS), an agrochemicals company in the Kingdom of Thailand. Having reached a share sale and purchase agreement with individual shareholders of SOTUS, MCAG acquired further 1.5% shares of SOTUS to increase its shareholding ratio to 17.7% of SOTUS’ total shares.

To enhance overseas business, MCAG had reached an agreement on business and capital tie-up with SOTUS to acquire 10% of its outstanding shares in 2011, for the purpose to secure a production base in the growing South East Asian markets. In 2013, in order to strengthen its development capability, MCAG established a formulation research center together with SOTUS, who therefore has become a more important partner to MCAG. In 2016, for reinforcing this partnership, MCAG acquired 6.2% shares of SOTUS from Pacific Agriscience Pte., LTd.

The present transaction will enable MCAG to tie-up more profoundly with SOTUS and to drive further success by accelerating development of new products in South East Asian markets.