Brazil: Adama to invest in new fungicide plant with R$ 150 million

According to a statement, the plant will focus on manufacturing the active ingredient of new products, adding to the company’s existent soy portfolio that is already located in the municipality.

The agrochemical company, Adama, will build a new fungicide plant in the city of Taquari, Rio Grande do Sul, the company announced on Monday, with an estimated investment of R$ 150 million (US$ 27.4 million) by 2021.

According to a related statement, the plant will focus on manufacturing the active ingredient of new products, adding to the soy portfolio of the company that is already located in the municipality.

Adama predicts that the new installation, whose construction will begin this month, will be inaugurated in November 2021.

"Our growth is based on offering a complete portfolio to farmers. To do this in a market as competitive as Brazil, we need to make strategic investments in the synthesis of some active ingredients," said Romeu Stanguerlin (CEO of Adama) in the statement.

The company's objective, according to the statement, is to double the revenue from its Brazilian operation over the next five years, by launching ten new products aimed at the local market.

The company pointed out that, with the new installation, it will have five manufacturing units in Taquari (RS), in addition to another in Londrina (PR). The most recent inauguration of Adama in the city of Rio Grande do Sul occurred in 2018, with the opening of a factory that makes products for the cultivation of soybeans.