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United Phosphorus’ overseas subsidiary has entered into an agreement with SD Agrichem Europe, a subsidiary of Punjab Chemicals and Crop Protection Ltd (Punjab Chemicals), to acquire 100 per cent in the Dutch company Agrichem, for an undisclosed amount. The deal involves all tangible and intangible assets, IPR, product registrations, brands, the distribution network and manufacturing facilities.
Agrichem, based out of Oosterhaut, the Netherlands, is engaged in the production, marketing and selling of crop protection products in the European agrochemicals market.
Its product range includes herbicides, insecticides and fungicides registered in several European countries including the Netherlands, Belgium, the UK, France, Germany, Ireland, and Switzerland.
“Agrichem will give us new and enhanced market access in European countries. Agrichem has an exciting registrations portfolio with products that will be complimentary to UPL’s existing portfolio in Europe,” said Mr Jai Shroff, global CEO, United Phosphorous (UP).
UP is the largest Indian agrochemical company and is engaged in research, manufacturing, marketing, sales and distribution of agrochemicals and specialty chemicals across the globe. The company’s revenue for the year ended March 31, 2012, was about $1,627 million.
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