The Hindu Business Line : United Phosphorus eyes acquisitions in Latin America

MUMBAI: Agrochemical company United Phosphorus (UPL) is eyeing more acquisitions in Latin America and East Europe to expand its footprint in global market, a top company official said here.

“UPL is on the lookout for acquiring more companies, technology, products and product registrations across the globe. We are looking at acquisitions in Latin America and identified some companies in East Europe, as we see these are some of the key focus areas for the company,” United Phosphorus Chairman and Managing Director, Mr Rajju Shroff said here.

Brazil is set to become big market in two-year's period, and it will overtake US market. Similarly some of the East European markets are also growing fast, Mr Shroff said.

“We look for the giant companies and we look for the smaller companies having turnover of Rs 50 to 100 crore. We bought two companies in Argentina, and added two more plants in that country. In Japan, we have jointly put in a big marketing team, but the products are sold through our 100 per cent subsidiary,” Mr Shroff said.

“It is with foresight and long term planning that we could enter the world market. Today our company is among the top 10 global crop protection chemical industries. We are the biggest supplier in the world market and we have to expand,” Mr Shroff said.

After its first acquisition in UK, today the company has three units in France, one each in Holland, Italy, China, Argentina, Australia, South Africa, Mexico, Poland, Russia, and Spain, Mr Shroff said, adding that it has 600 people's marketing team in Eu rope and 60 in US. - PTI

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