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Sumitomo to integrate its Indian agrochemical units soon
Apr. 6, 2011
Sumitomo Chemical Plans to merge Mumbai-based agrochemical manufacturer and distributor New Chemi Industries, which it fully acquired in December 2010, as well as their joint venture SC Enviro Agro India into its subsidiary Sumitomo Chemical India as early as in April.
The company had been looking into the integration of its local units since the acquisition, aiming to heighten the efficiency of its business and realize synergies to raise its presence in India’s agrochemical market.
Established in 1961, New Chemi Industries has a large portfolio of mainly generic crop-protection products and 113 employees, with sales of about 1.4 bn yen ($17mn) in fiscal 2009. Sumitomo owns 90% and New Chemi 10% of the joint venture, which was created in 2000 in Tarapur, Maharashtra, to make household insecticides and crop-protection chemicals. With a staff of 58, SC Enviro posted sales of 1.5 bn yen in fiscal 2009.
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