Sumitomo Chemical Company, Limited (“Sumitomo Chemical”) has successfully completed, on April 1, 2020, the acquisition of four South American subsidiaries in Brazil, Argentina, Chile, and Colombia, owned by group companies of Nufarm Limited (“Nufarm”), a leading Australian agricultural chemical company, through Sumitomo Chemical’s wholly-owned subsidiaries in the region (Sumitomo Chemical Brazil for the Brazilian subsidiary and Sumitomo Chemical Chile for the others).
Sumitomo Chemical has been expanding its global footprint (building its own business bases) in the crop protection business in various regions around the world. With this acquisition, Sumitomo Chemical can build its own sound development and sales network of crop protection products in South America, including Brazil, the world’s largest crop protection market. By making the most of the expanded foothold through the acquisition, the company is well positioned to steadily ramp up sales of INDIFLINTM (inpyrfluxam) — a novel fungicide, highly effective against Asian Soybean Rust, developed by Sumitomo Chemical’s proprietary technology — immediately after its launch in South American region after 2020, and to achieve an exponential growth in its crop protection revenue. With the acquisition of formulation facilities owned by the Brazilian subsidiary, coupled with the R&D facility in Brazil opened in 2016, Sumitomo Chemical will pursue the integrated business operations in the South American region, from development through formulation to distribution.
Using this acquisition as a strong growth driver in the crop protection business, Sumitomo Chemical will achieve further growth in its Health & Crop Sciences Sector. In addition, the company will continue its efforts to offer solutions catering to the specific needs of growers, and contribute to ensuring the stable supply of safe and secure food, which is increasingly in high demand worldwide.
Reference
Announcement Concerning the Acquisition of Shares in Nufarm’s Group Companies in South America
Sumitomo Chemical to Enhance Crop Protection Sales Network in South America with Acquisition of Four South American Subsidiaries of Nufarm