TOKYO--(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 21st, 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 |
