United Phosphorus, the country’s largest agro- chemical company, could use close to Rs 1,000 crore for acquisitions by the end of current fiscal. The company, which has interests in crop protection products and exports, is sitting on a Rs 2,100-crore cash pile as of September 2010. UPL is looking for companies which may make it easier to get a better market share.
The global chemical industry is said to be witnessing a consolidation wave with the Chinese state-owned ChemChina bidding for MAIN, the largest agrochemical company based in Israel. At one point, UPL was said to be talking to MAIN some time ago. Australia’s Nufarm, the second-biggest agrochem company, is also considered a takeover target. In December 2009, the company rejected an approach from Sinochem.
crackcrackCompany Name | CMP |
---|---|
UPL | 510.20 |
BASF India | 4615.00 |
PI Industries | 3662.85 |
Bayer CropScience | 5304.00 |
Sumitomo Chemical India | 399.00 |
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