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Tuesday, Mar 02, 2004

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Corporate - Mergers & Acquisitions

United Phosphorus buys 20% in Cropserve

Our Bureau

Mumbai , March 1

UNITED Phosphorus Ltd has acquired 20 per cent stake in Cropserve, a company based in South Africa.

At present, the said company is marketing various agro chemicals of different companies in Zambia, Zimbabwe, Malawi, Mozambique. "This investment will help it to effectively market its products in these territories," the company said in a notice to the Bombay Stock Exchange.

The Company has signed an agreement to acquire registration for production of Lenacil and Chloridazon from Agricola for UK, France and Italy. Currently, the market size for these products is about 100 million Euros. These products can be used for sugarbeet, fruits and vegetables.

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