TOKYO, Jan 29 (Bernama-BUSINESS WIRE) -- Mitsui Chemicals Agro, Inc. (Tokyo, President & CEO: Kazunori Tani, “MCAG”) announced today that MCAG acquired additional shares of Sotus International Co., Ltd. (“SOTUS”), an agrochemicals company in the Kingdom of Thailand, as of January 21
st, 2016. Having reached a share sale and purchase agreement with Pacific Agriscience Pte., Ltd. (“PA”), a shareholder of SOTUS, MCAG acquired all the PA-owned shares of SOTUS to increase its shareholding ratio to 16.2% of SOTUS’s total shares.
To enhance its overseas business, MCAG agreed to a business and capital tie-up with SOTUS and acquired 10% of its outstanding shares in 2011, to secure a production base in the growing Southeast Asian market.
In 2013, in order to strengthen its development capability in Southeast Asia, MCAG established a formulation research hub together with SOTUS, which has since become an important partner to MCAG.
The present transaction will enable MCAG to reinforce its partnership with SOTUS and to drive further success by accelerating development of new products in Southeast Asian markets.
About Mitsui Chemicals & Mitsui Chemicals Agro Mitsui Chemicals (Tokyo:4183, ISIN:JP3888300005), which traces its roots back to 1912, has an annual sales of 1,550 billion yen in the fiscal year ending March 2015 and more than 135 companies with 14,500 employees in 27 countries. As one of Japan’s leading chemical companies, Mitsui Chemicals contributes broadly to society by providing high-quality products and services to customers through innovations and creation of materials and products while keeping in harmony with the global environment. Mitsui Chemicals’ business portfolio includes healthcare, automotive materials, food packaging, energy, agrochemicals, and others.
Mitsui Chemicals’ global agrochemical business is operated by its 100% subsidiary, Mitsui Chemicals Agro, Inc. who supplies innovative agrochemicals for crop protection and pest management. The company always stands for customer’s view, offers “Very safe”, “Highly functional”, and “Environmentally friendly” products and services, and contributes to the sustainable agriculture.
About SOTUS (as of January 21st, 2016) | (1) Company Name : | | Sotus International Co., Ltd. |
| (2) Line of Business : | |
-Importation, formulation, domestic commercialization of crop protection and non-crop chemicals/fertilizer business
-Pest control operation business |
(3) Foundation : | |
April 1st,1996 |
(4) Head Office : | |
Nonthaburi, Thailand (Near Bangkok) |
(5) Chairman & CEO : | |
Yanyong Prathuangwong |
(6) Capital : | |
200 million Baht |
