Mitsui Chemicals Agro acquired 20% shares of Cuulong

Mitsui Chemicals Agro, Inc. (MCAG, President & CEO: Kazunori Tani) announced today that MCAG reached an agreement for the business and capital tie-up with Cuulong Joint Stock Company (Cuulong), an agrochemicals company in the Socialist Republic of Vietnam, and completed the acquisition of 20% of Cuulong’s total outstanding shares.

 

To enhance its overseas business, MCAG has set Vietnam as one of the important market in Southeast Asia and co-operating with Cuulong, who owns the widespread local sales network, helps strengthen MCAG’s sales considerably in this growing market.

 

MCAG has built a mutual trust with Cuulong presently through the distribution of MCAG’s products. With taking advantage of both companies’ strengths, this business and capital tie-up will enable MCAG to reinforce the partnership with Cuulong and drive further success by accelerating development of the market as well as new products in Vietnamese market.