RELEASED ON 31/01/13 (DD/MM/YY)
Mitsui Chemicals Agro is to spend several hundreds of millions of yen (several million dollars) to establish a new technical center in Thailand in December to step up R&D and marketing in Southeast Asia.
The center will be set up on the premises of a plant in the suburbs of Bangkok of Sotus International, a local manufacturer of agrochemicals. It will be responsible for the development of agrochemical formulations that closely match regional specifics, such as crop type and cultivation method. Mitsui will dispatch several Japanese employees to the center, with local staff to be hired in the future.
With a goal of 100 bn yen in annual sales in 2020, 2.5 times the current figure, the company identified Southeast Asia and South America, where demand for agrochemicals is rising, as revenue-growth regions. It therefore acquired a 10% stake in Sotus in May 2011 and consigned the formulation of its Starkle insecticide to Sotus as of 2012 for supply to customers in Southeast Asia and India as well.
SOURCE Japan Chemical Web
Mitsui Chemicals Agro is to spend several hundreds of millions of yen (several million dollars) to establish a new technical center in Thailand in December to step up R&D and marketing in Southeast Asia.
The center will be set up on the premises of a plant in the suburbs of Bangkok of Sotus International, a local manufacturer of agrochemicals. It will be responsible for the development of agrochemical formulations that closely match regional specifics, such as crop type and cultivation method. Mitsui will dispatch several Japanese employees to the center, with local staff to be hired in the future.
With a goal of 100 bn yen in annual sales in 2020, 2.5 times the current figure, the company identified Southeast Asia and South America, where demand for agrochemicals is rising, as revenue-growth regions. It therefore acquired a 10% stake in Sotus in May 2011 and consigned the formulation of its Starkle insecticide to Sotus as of 2012 for supply to customers in Southeast Asia and India as well.
SOURCE Japan Chemical Web