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Business
Sumitomo buys into Indian producer
by Jean-François Tremblay
June 13, 2016
| A version of this story appeared in
Volume 94, Issue 24
Sumitomo Chemical is acquiring a stake as high as 75% in Excel Crop Care, India’s fifth-largest agrochemical firm. The Japanese company has already agreed with Excel’s founders and other investors to buy at least 45% of the company. The Indian agrochemical market is the world’s ninth largest and is growing at a rate of 6.4% per year. With headquarters in Mumbai, Excel manufactures and sells a range of agrochemicals. The Japanese producer hopes to use Excel’s distribution channels to boost sales of its agrochemicals in India.
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