United Phosphorus (UPL) has acquired 50% stake in Spicam Isagro Brasil, which gives the domestic agro chemical manufacturer a foothold in Brazil, one of the biggest global crop protection markets. Spicam Isagro Brasil is a 50:50 joint venture between two Italian groups Sipcam-Oxon and Isagro. Both Sipcam and Isagro are involved in production and distribution of agro chemicals. After this sale, while Isagro's stake has been bought by UPL, Sipcam will continue to hold the other 50% of the stake.
UPL with this expansion is entering the $7 billion agro-chemical market in Brazil, which ranks among the top five largest crop protection markets in the world. It also gives UPL a foothold in the formulations business. SIB is based in Uberaba, Minas Gerais in Brazil and its forte is marketing and distribution of agro-chemicals.
This is UPL's third acquisition in the past fiscal. The company had earlier acquired brand Manzate from Dupont in June 2010 and Rice Co LLC USA in December, 2010. UPL is among the leading agro-chemicals company in the country with revenues for the year ended March, 2010 at about $1,142 million.crackcrack
| Company Name | CMP |
|---|---|
| UPL | 656.30 |
| PI Industries | 3103.00 |
| Bayer CropScience | 4651.30 |
| Sharda Cropchem | 1127.55 |
| Sumitomo Chemical | 501.95 |
| View more.. | |
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