JAPANS MITSUI CHEMICALS PLANS OVERSEAS AGROCHEMICALS PUSH

Date:02-23-2010

TOKYO, Feb 23, 2010 (AsiaPulse via COMTEX) --

Japans Mitsui Chemicals Inc. (TSE:4183) is taking steps to broaden overseas sales of agricultural chemicals, including licensing a new fungicide ingredient to U.S. chemical giant DuPont.

DuPont will market agrochemical products that are based on the ingredient in Australia and other parts of the world.

Mitsui Chemicals acquired the agrochemical business of Daiichi Sankyo Co. (TSE:4568) in 2007. Up to now it has focused on the Japanese and Asian markets. It hopes to use partnerships with DuPont and other foreign companies to sell agrochemicals in Europe, South America and Australia.

This June Mitsui Chemicals will set up a sales subsidiary in Brazil to market plastics. The company plans to use that base to also develop the agrochemical markets of Brazil and India.

The overall goal of these efforts is to double annual agrochemical sales to 100 billion yen in fiscal 2015.