Mitsubishi acquired Deccan for agrochemical business

Date:09-03-2009

Mitsubishi Corp. (TSE:8058) has broadened its involvement in agrochemical manufacturing services by acquiring a 19.5 per cent interest in Indian company Deccan Fine Chemicals for about 170 million yen (US$1.8 million).

Deccan will begin operating a new agrochemical plant at the end of 2009. Mitsubishi will seek orders for producing active ingredients and intermediates for herbicides, insecticides and fungicides from Japanese and Western agrochemical manufacturers, which are increasingly outsourcing these operations.

The Japanese trading firm hopes to generate sales of roughly 6 billion yen with this operation in India after three years.

Mitsubishi also has a base in China for agrochemical manufacturing services.