Sumitomo Chemical Acquires Crop Protection Product Distributor in UK
Sumitomo Chemical Co., Ltd. announced that its wholly owned French subsidiary Sumitomo Chemical Agro Europe S.A.S. has acquired 80% of the shares of UK crop protection product distributor Interfarm (UK) Ltd.
In addition to engaging in export sale from Japan, Sumitomo Chemical's crop protection business has established development and direct distribution operations in major overseas markets to advance its global business development. In Europe, the Company has such operations in France, Spain and Italy, serving most of the major markets.
The UK crop protection market is the fourth largest in Europe, focusing on cereals, potatoes, and rapeseed as its main crops. Sumitomo Chemical has promoted product development in the country geared to specific crops and regions, while continuously evaluating possibilities for setting up direct distribution capabilities in the UK. The present acquisition was undertaken by Sumitomo Chemical Agro Europe, which develops and distributes crop protection products throughout Europe. With its own base of operations in the UK, the French subsidiary will accelerate the product development and registration process and enhance distribution and promotional activities closer to the market.
Sumitomo Chemical will take advantage of the current acquisition as an opportunity to further expand sales of its crop protection products, not only by enhancing the marketing and distribution of its existing products, but also by developing and launching new products for major crops in the UK. The Company anticipates increasing sales of crop protection products in the UK eventually to some billion yen.
The current acquisition will enable Sumitomo Chemical's agricultural chemicals business to complete building development and distribution capabilities in markets covering each of the four main European countries. Going forward, the Company will continue to expand agricultural chemicals operations globally, including the establishment of development, marketing, manufacturing, and distribution bases in the major markets it serves.
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