Astec Lifesciences forms subsidiary for agrochemicals business

Date:12-02-2010

Astec Lifesciences announced that it has formed a 100% subsidiary company namely Astec Crop Care (P) with the main object to start the business of trading in agrochemicals and pesticides formulation to sell in local as well as in export market with its own brand name.

Initially, this company proposes to launch its products in the state of Gujarat, Karnataka and Maharashtra.

It has also appointed a dedicated team to take the new venture ahead.

Shares of Astec Lifesciences gained Rs 2.2, or 3.52%, to trade at Rs 64.75. The total volume of shares traded was 15,624 at the BSE.