Mitsui Chemicals increases stake in Sotus 18 percent

Mitsui Chemicals increases stake in Sotus to 18 percent

9:25 AM, 24th March 2017
Mitsui Chemicals logo

TOKYO, JAPAN: Mitsui Chemicals Agro Inc (MCAG) has acquired an additional 1.5 percent shares in Sotus International Co Ltd (Sotus), an agrochemicals company in the Kingdom of Thailand.

Mitsui Chemicals Agro Inc was established on 1 April 2009, by the integration of Agrochemicals Division of Mitsui Chemicals Inc (MCI) and Sankyo Agro Inc.

MCAG has reached a share sale and purchase agreement with individual shareholders of Sotus. This increases MCAG shareholding ratio to 17.7 percent of Sotus’ total shares.

To enhance overseas business, MCAG had reached an agreement on business and capital tie-up with Sotus to acquire 10 percent of its outstanding shares in 2011, for the purpose to secure a production base in the growing South East Asian markets.

In 2013, in order to strengthen its development capability, MCAG established a formulation research centre together with SOTUS, who therefore has become a more important partner to MCAG. In 2016, for reinforcing this partnership, MCAG acquired 6.2 percent shares of Sotus from Pacific Agriscience Pte Ltd, an expertise in agricultural science and technology.

The present transaction will enable MCAG to tie-up more profoundly with Sotus and drive further success by accelerating development of new products in South East Asian markets.

© Worldofchemicals News 



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