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Mitsui Chemicals Agro acquires 30% shares of PT Agriculture Construction Indonesia
Aug. 10, 2017
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Japan
Mitsui Chemicals Agro, Inc. (MCAG) announced that it reached an agreement for the business tie-up with PT Agriculture Construction (Agricon), an agrochemicals company in the Republic of Indonesia, and completed the acquisition of 30% of total outstanding shares of an Agricon’s subsidiary for distribution of agrochemical products, PT Agriculture Construction Indonesia (AGCI).
To enhance and expand its overseas business, MCAG has set Indonesia as one of the important markets in Southeast Asia, and co-operating with Agricon who owns the widespread local sales network helps MCAG strengthen its sales considerably in this growing market.
MCAG has built a mutual trust with Agricon through the distribution of MCAG’s products since the launch of the fungicide Nebijin (flusulfamide) in 2009, and the launch of the insecticide Tenchu (dinotefuran) in 2016 made Agricon become an important partner in Indonesia. With taking advantage of both companies’ strengths, this business tie-up including the share acquisition of AGCI will reinforce the partnership between Agricon and MCAG and drive further success by accelerating development of the market as well as new products in Indonesian market.
Source: Mitsui Chemicals Agro
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