Sumitomo Chemical Company has recently announced a successful acquisition of four South American subsidiaries of Nufarm Limited in Brazil, Argentina, Chile, and Colombia. Nufarm business group is a leading Australian company in agricultural chemicals.
Looking forward to expanding its footprints in the global agricultural industry, Sumitomo Chemical has been building its business bases in the crop protection business by venturing into various regions of the world. Through this acquisition, Sumitomo Chemical eyes at building its network for developing and marketing crop protection products in South America. Acquiring Nufarm in Brazil can help the brand strengthen its power as Brazil is considered as the world's largest crop protection market.
With this acquisition, the company aims at reaching a top position in the market and has sustained sales growth for a new highly effective fungicide against Asian Soybean Rust ‘INDIFLINTM’ (inpyrfluxam). The chemical is discovered by Sumitomo Chemical's technology and will be launched in South American countries after 2020. The company is looking forward to achieving exponential growth in its crop protection income with this new launch.
The company will obtain the integration of its commercial operations in South America, from development to formulation and distribution as the acquisition of the formulation plant by the Brazilian subsidiary is completed. The acquisition will play a big role in the growth engine in the crop protection business of Sumitomo Chemical. The company will, furthermore, continue with its efforts to offer tailor-made solutions for the specific needs of producers and will give its share in ensuring a stable supply of healthy and safer food, which is the current requirement of the people across the world.
